Questions & AnswersMississippiJacksonFinancingQuestion

Are there any loan programs for lower priced homes $20,000-30,000)?

(0) | asked by: sapheria myers | share | 3 weeks ago | Report
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answer by Christopher Block   |   Visit My Website   |   Contact Me
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Typically homes priced under $50,000 will be in "war zones" as some in real estate say, but basically the worst neighborhoods in the metropolitan of where you currently live. Every state has them, and at least in Minnesota the government is doing their best to rebuild and stabilize these neighborhoods. I know of one federal grant that was given where you got $15,000 DP assistance for these areas. Just research programs online for Jackson and I am sure you will find them. And for Mattie the answer is still no. Financing won't change just because the purchase price is lower. The banks need to see 640 minimum, and you might find a national lender that can do a little bit lower. Your best solution is to look at rent-to-own or contract-for-deed until you can get traditional financing.
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mattie salter
answer by mattie salter   |   answered questions: 1
if and house cost 28,000 and i put 5,000 down will some one finance me the rest with and low credit score.
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Claudia Barnett
answer by Claudia Barnett   |   Contact Me
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I am sure there are. Contact your local mortgage company or banking institution that you use. Good luck! Happy new year,
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3 weeks ago  |   Report   |   share
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