If I am a first time home buyer is there any Government grants I can get in Kansas?
Thursday, April 29th, 2010 at
6:21 am
I am moving in October and I wanted to buy a house If i am a first time home buyer is there any Government grants I can get in Kansas? i would be living in Wyandotte county. If there is and they loans for my down payment or are they free grant money?
Tagged with: first time home • first time home buyer • free grant money • government grants • loans • time home buyer
Filed under: First Time Home Buyer Loans and Grants
Government grants are hotly competed for here in Phoenix (and elsewhere) and in many locality’s cases the $ is long gone.
But take heart, there are still 3 ways to get 100% financing.
1) VA for current/former servicemen/women in good standing
2) USDA rural housing for homes in outlying (nonmetro) areas
3) FHA with seller paying 6% of equity to you in down payment assistance and closing costs.
If you have fair/poor credit, you NEED to get with a mortgage professional who understands how to present your story to an underwriter. COMPENSATING FACTORS are:
1) Creditcards/Collections paid off/paid down.
2) Assets in the bank
3) year over year increase in pay
4) job stability, etc.
FHA LOVES a great story. Get with a mortgage pro who can help make you look like the best buyer that U/W has seen ever.
Best of luck to you!