Posted on: 08th Apr, 2009 03:36 pm
I am looking for a loan for a house. I live in Las Vegas and I am a police officer. I know there are programs out there for police, firefighter and teachers. I was wondering what you have to offer for a loan. I just moved here from Massachusetts and owned a home there. My first mortgage I put down 5% and did not have to pay PMI.
Hi,
There are quite a number of homeloan programs for law enforcement officers like you. There are loan programs which do not require you to make any down payment and still avail a low interest rate. Fredie Mac has a 'Home Possible' program which offers zero-down mortgages to police, firefighter and health care workers.
You can also go for HUD's 'Good Neighbor Next Door' program. This will help you get HUD owned single family homes at 50% discount rate. Thus if HUD lists a home for $100,000, you can buy it for $50,000 only. However you will required to stay in the home for 3 years. If you get an FHA insured loan your downpayment will be only $100 and you can also finance the closing cost. If you need to finance the repair or improvement on the purchased home, you can avail of the FHA 203(k) mortgage program.
For more information on this topic, you can refer to the following page:
http://www.mortgagefit.com/know-how/about5922.html .
There are quite a number of homeloan programs for law enforcement officers like you. There are loan programs which do not require you to make any down payment and still avail a low interest rate. Fredie Mac has a 'Home Possible' program which offers zero-down mortgages to police, firefighter and health care workers.
You can also go for HUD's 'Good Neighbor Next Door' program. This will help you get HUD owned single family homes at 50% discount rate. Thus if HUD lists a home for $100,000, you can buy it for $50,000 only. However you will required to stay in the home for 3 years. If you get an FHA insured loan your downpayment will be only $100 and you can also finance the closing cost. If you need to finance the repair or improvement on the purchased home, you can avail of the FHA 203(k) mortgage program.
For more information on this topic, you can refer to the following page:
http://www.mortgagefit.com/know-how/about5922.html .