Down- Payment assistance programs...first time home buyer?

There aren't any programs in CC county, Martinez is not a rural area, USDA would not be appropriate.

You can't borrow your down payment, it sounds like you are not ready to buy.

All these answers are correct, except.... I have a FHA loan program where you only need to put 0.5% down. The is done by taking a second mortgage for the 3%, with the thought that if you close by November 30th, you can use your tax credit to pay off the 3% loan. The other downside is that the interest rates are higher for his loan, for both the first and second mortgage. BUT on the flip side, after 6 months you can do a no cost streamline and get the interest rate down to a better rate (IF rates are still low at that time...) Everything is a gamble, I make no guarantees that a streamline will be a good option in 6 months.

If you are interested in this low down loan, please contact me asap!

http://www.mynewkeys.com/

**Sidenote... a GOOD lender will not give you a list of programs, instead they will search out the best option and make it happen***

the only program I really know about with 100% financing these days is the USDA loan but it is specific to certain areas and you would have to go to their website and look in your county to see if there are any eligible areas there. If you are doing an FHA loan you will be required to bring in 3.5% for a down payment. You can use "gift funds" for this; as you mentioned from your father.

well, you may just have to look for cheaper houses then.... $3000 down payment can get you in a $90,000 house with fha. if no state funded down payment assistance programs match up for where you are looking then you are SOL on that one- FHA only allows state funded down payment assistance programs. have you found out the income limit where you live for these programs? that has a big factor too. i was going to use the DP program here where I live, but then found out we exceeded the limit for a family of 4 by a couple thousand dollars.

Is there any chance either of you have been in the military and gotten an honorable discharge. VA will allow you 100% financing.

Also if you are a First time homebuyer you may be able to get the $8,000 tax credit. If you have a 401K you could get the money from the 401K and replace the money once you get the tax credit back from Uncle Sam. Then you will not have to borrower from Dad.

This link will let you know if you qualify for the tax credit

http://www.youtube.com/watch?v=81KFf1_Wxao

you didn't say what type of loan program you are going for.

USDA is 100%, no downpayment.

If it's FHA, you MUST have 3.5% of your money. There are NO downpayment assistance programs for FHA.