Many loan programs have been eliminated over the past year but if you are in a “qualified profession” (residents, physicians, orthodontists and dentists) there are some very attractive loan options even if you are new on the job.
I know of a young couple who had accepted his first physician position in September and were looking to buy their first home. He had just finished his residency in July were he was earning typical resident salary. His newly accepted position as an ER doctor was to pay nearly the same per month as he made in 45 days as a resident. His first pay check covered his down payments and the basic loan requirements allowing them to purchase the home they had worked so hard for. This doctor program is available in 34 states with some states allowing for 100% financing!
A good option for this type of financing can be located here.
Many loan programs have been eliminated over the past year but if you are in a “qualified profession” (residents, physicians, orthodontists and dentists) there are some very attractive loan options even if you are new on the job. I know of a young couple who had accepted his first physician position in September and were looking to buy their first home. He had just finished his residency in July were he was earning typical resident salary. His newly accepted position as an ER doctor was to pay nearly the same per month as he made in 45 days as a resident. His first pay check covered his down payments and the basic loan requirements allowing them to purchase the home they had worked so hard for. This doctor program is available in 34 states with some states allowing for 100% financing! A good option for this type of financing can be located here.
There are 76m households in the US that own their own home. 24m of these homes are free and clear There are 52m homes with mortgages 97.2% of these are not in foreclosure 93.8% of these homes are current on their payments
There are 76m households in the US that own their own home.
There are 52m homes with mortgages
I often get the opportunity to work with senior clients or clients who have parents who are in need of senior housing. The housing needs that are most often requested is for a bedroom on the main level that offers some privacy for a live in parent but does not occupy the mater suite. There are two other alternatives. The first alternative is a separate detached “mother in law unit”. These typically must be in neighborhoods with lot sizes that will accommodate a separate structure - usually on an acre or more. The second option is a townhouse that is in a senior community – 55 and over. These can be purchased in the low – mid 100’s and are located in Meridian. These offer an investment option down the road as well. More to follow on that subject.
Are you looking to buy and interested in a short sale? Do you have to know when you are going to move in? If the answer is YES then consider an "approved short sale". This is a short sale where the lender has approved of a short payoff already. This is a very rare scenario but nearly assures a closed transaction at the end of the day. Here is an example of an approved short sale in Boise Idaho. Bristol Heights - Approved Short Sale