List of Common queries to the Lenders

Caron

Hi Ash,

Welcome to our forums.

Since you've asked about mortgages requiring low down payment and closing costs, I suggest that you look out for FHA insured loans. The FHA has recently increased the loan limits that they insure especially in high cost areas. Moreover, the down payment is also around 3% and seller concessions are allowed on the closing costs.

By the way, can you tell me why you are being denied? did you ask the lenders about it? and have you treid out with FHA loans with those lenders? Just in case you'd ike to know how to qualify for FHA loans , go through a discussion on this topic.

Just to let you know, there are a group of lenders in this community who offer a wide range of mortgages to people having different income and credit qualifications, to those making low down payment and also to those putting down good amount of cash. What I suggest is, go for a no-obligation free consultation on the right loan with the lenders here and then discuss the options in our Loan Talk for First time buyers forum wherein other lenders can also place their suggestions. Try this out - hopefully you'll be able to get a suitable financing option.

Good luck

jbarto65 · Joined: 04 Nov 2007 Posts: 627 0.00 Dollars($)

Wonderful advise, great job.

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