Don’t miss this GEM! 4 Sided Brick Bungalow in Historic West End. 3bedroom plus a REAL Bonus Room/Den/Office! Walk to public transportation (MARTA). Private 2 car detached covered parking. Many original details restored! Coffered ceilings, hardwoods and so much charm for the list price of $105.9K.
This is a smart move for first time home buyers- participate in ADA program and get down payment assistance.
Investors you can’t go wrong in this BeltLine Community! Walk to Atlanta University Center.
Fully renovated, move in condition homes! Awaiting your inspection. View the links below to see these great deals! These homes will pass FHA inspection. Beltline Community- speak with your mortgage officer about city funds for down payments!
1. Investigate local, state, and national down payment assistance programs.These programs give qualified applicants loans or grants to cover all or part of your required down payment. National programs include the Nehemiah program,www.getdownpayment.com, and the American Dream Down Payment Fund from the Department of Housing and Urban Development,www.hud.gov. 2. Explore seller financing.In some cases, sellers may be willing to finance all or part of the purchase price of the home and let you repay them gradually, just as you would do with a mortgage.
3. Consider a shared-appreciation or shared-equity arrangement.Under this arrangement, your family, friends, or even a third-party may buy a portion of the home and share in any appreciation when the home is sold. The owner/occupant usually pays the mortgage, property taxes, and maintenance costs, but all the investors’ names are usually on the mortgage. Companies are available that can help you find such an investor, if your family can’t participate.
4. Ask your family for help.Perhaps a family member will loan you money for the down payment or act as a co-signer for the mortgage. Lenders often like to have a co-signer if you have little credit history.
5. Lease with the option to buy.Renting the home for a year or more will give you the chance to save more toward your down payment. And in many cases, owners will apply some of the rental amount toward the purchase price. You usually have to pay a small, nonrefundable option fee to the owner.
6. Consider a short-term second mortgage.If you can qualify for a short-term second mortgage, this would give you money to make a larger down payment. This may be possible if you’re in good financial standing, with a strong income and little other debt.
The Housing bill signed by the President on July 30, 2008, does not eliminate all downpayment assistance programs from eligibility for FHA insurance. Only those programs that are funded directly from the seller or other party to the transaction are prohibited. Downpayment assistance from family members, government programs, or charities that are not seller-funded is still permitted. The prohibition goes into effect October 1, 2008. Read more about the Seller-funded Downpayment Assistance Provision.
Great deal in Historic West End!!
ADORABLE 1920’S BUNGALOW IN EXCELLENT CONDITON AND PRICED THOUSANDS BELOW COMPETITION (Not a foreclosure)! COFFERED CEILINGS, CHARMING MOLDINGS, AND GLEAMING HARDWOOD FLOORS. HIGHLY MOTIVATED SELLER SAYS SELL NOW! CONVENIENT LOCATION NEAR INTERSTATE, AIRPORT AND DOWNTOWN.www.NiaKnowles.wordpress.com http://www.NiaKnowlesRealty.com