Posted on: 27th Oct, 2009 07:17 am
Is there such a thing anymore as a NINA loan for a 1st time homebuyer (FL), currently unemployed? Eligible for social security benefits in 10 months. I can prove 5 years of unblemished rent payments and have assets of $30K.
mygame
Yes there is such thing as a NINA loan. However, you DO need to be employed and you will probably need at least a 40-50% down payment. There is a lender who will do this in Florida. There also may be property type restrictions such as NO CONDOS. If anyone else is reading this and has a similar situation in New Jersey, New York or Connecticut.....then there is a lender out there for you.
Yes there is such thing as a NINA loan. However, you DO need to be employed and you will probably need at least a 40-50% down payment. There is a lender who will do this in Florida. There also may be property type restrictions such as NO CONDOS. If anyone else is reading this and has a similar situation in New Jersey, New York or Connecticut.....then there is a lender out there for you.
There is a NINA program which requires a 30% down payment and a 720+ credit score. Rates range from 8% and up. I hope this helps...
