Jan 2, 2009

How to Buy with "Nothing Down"

Hello Neighbors,

I just dug up an old email from September / October. It's from a lender partner of ours with some very good insight.

He was asked to come up with the remaining ways to buy with nothing down. His list is below.

Keep in mind that this segment of the market is changing so rapidly that we can't keep up! The consumer has to be a diligent shopper to watch what is best for themselves. Here's the list:

CalPERS FHA 97% with 3% member Personal Loan
CalPers Conventional 95% w/5% Member Personal Loan
FHA w/Neighborworks proprietary $10,000 2nd
FHA w/Neighborworks CalHome
FHA w/ SAR HELP program
Conventional w/Neighborworks CalHome
FHA w/SHRA CalHome
Conventional w/SHRA CalHome
FHA w/SHRA Target Area Homebuyer Program
FHA w/CalHFA CHDAP Program
Conventional CalHFA w/CHAP & CHDAP
FHA w/Gift Funds
FHA w/401K loan
Access Conventional (reduced to 7%) w/CalHFA CHDAP
FHA w/NHF 1st House Grant
FHA w/NHF 1st House 2nd Loan
USDA Rural Housing
FHA w/Employer Assisted Housing Program
Numerous city programs i.e. West Sacramento, Citrus Heights, Rocklin, Roseville, etc.

The funding on some of these programs is intermittent. Not all of them have funding right at this time. They all have restrictions. some are based on income, geographic locations, 1st time buyer status, employers, and other things.

MANY sincere thanks to Jeff for putting this list together.

- Jim


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