 | Stacy Cole
a licensed real estate agent with Coldwell Banker Stucky & Associates is a native Wichitan. Stacy graduated from Maize High and lives in Maize with her husband and two sons. When Stacy isn't working on real estate, or helping her husband run their business, Beeson's Cleaning and Restoration, she enjoys watching their boys play baseball. Stacy loves people and the excitement of watching their happiness as they become new homeowners. You can reach Stacy at 2121 N. Tyler Rd., Ste. 300, phone (316) 729-9700, cell (316) 312-4170 or email scole34@cox.net. |
Real Estate
2003-11-01 14:34:00
Buying a home
ANSWER: There are so many programs available today, which allow those who have no money down to become homeowners. Here are some of the few that may help you. One of the programs, Single Family Mortgage Revenue Bond Program, allows up to 4% cash assistance for first time buyers. Here's how it works: The program provides mortgage loan financing at a competitive interest rate and also allows qualified homebuyers to receive a cash benefit of 4% of the loan amount. At the time of closing, this $% loan amount can be used for various expenses such as down payment, closing costs, prepaid or other loan expenses. This program is a grant and does NOT have to be paid back. There is another program called Rural Development. This program has no down payment, the seller can pay all costs, and there is no PMI as with FHA financing, so your payments are less than anyone else’s. This also being a grant, does NOT have to be paid back. One of the requirements for this program is that the property has to be in an outer lying town such as Maize, Park City, Colwich, etc. This program is a great one. These are just a couple of the many programs available to help people like you overcome the obstacle of having a down payment. Please call a licensed real estate agent, or mortgage specialist for more information on programs such as these.
