Home Loan

Knowledge Dwelling Getting & To start with Time Dwelling Buyers System

Getting a house is most likely to be the greatest economical buy most people will make, so becoming prepared and performing with sector gurus is vital.

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  1. For those wondering how FHA, VA and USDA actually work.

    All three programs are quite common among first time home buyers as you could get a loan for low or no down payment at all. however, these programs work a little differently from each other.

    – VA is limited to only US military veterans and provides 100 percent financing (zero down payment)
    – USDA also comes with zero down payment option, however this loan type is only limited to the properties in rural/suburban areas.
    – FHA is the most common among first time home buyers. It is backed by Federal Housing Administration and the minimum down payment required to qualify for this program is 3.5%. FHA is applicable to all types of properties (single family home, multi family home, condos, town-homes, etc.)

    If you have a low budget and making a down payment of 10-20% seems impossible, i would suggest you to go with one of the three programs i mentioned above.

    Find out more about these programs at: http://sellectrealty.com/first-time-home-buyers-programs/


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