You can buy a house today in Orange County with as little as 3% down. This video discusses some of the important details and provides some advice on how to successfully close a transaction with one.
The details:
- The funds to close can be a gift from family
- Cosignors are acceptable
- Full income qualification is required
- Credits from seller and/or lender for closing costs are acceptable
- Your credit does not need to be perfect
- Some programs have income limitations
- Some programs require home ownership education classes
Key advice: Many home sellers are nervous about a minimal-downpayment borrower, so it is essential to do ALL the necessary loan qualifications and approval before writing an offer. Otherwise your offer may be rejected.
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