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geauxkw · Joined: 28 Mar 2009 Posts: 4 2.35 Dollars($)

i need help figuring out the best way to buy my first home. fha, rural developement, va(if i qualify)

billjames · Joined: 27 Mar 2009 Posts: 66 16.56 Dollars($)

Can you give a few details:

credit score
% down payment
do you have a co-signer

jerry · Posted: Mon Mar 30, 2009 7:15 am Post subject:

Hi geauxkw,

FHA loans are a good option for you. It requires a low down payment and its credit requirement is relatively less stringent. If you're ready to make a down payment of 3% and your credit is about 620 (recently revised), you can qualify for an FHA loan. However, there are statutory limits to the maximum amount of loan you can get which vary statewise.

To get a VA loan you have to have served the armed forces for a specified period of time (for eg: 90 days of active service during war time or 180 days during peace time etc).

Unlike an FHA loan, an USDA loan does not require a down payment which means you can finance upto 100% of the home value. You do not have to make any mortgage insurance payments. The credit requirements are also flexible.

However, you may seek a no-obligation free consultation with the community lenders on the right mortgage quote that best suits your situation.

Thanks,

Jerry

heavenhack7 · Joined: 05 Apr 2007 Posts: 76 1.14 Dollars($)

hi,

i think a few more details will be a good option to help you in a better way so please try providing more details so that we all can help you in a better way ,

thanks ,

max

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please help me