+1 vote
asked Aug 30, 2017 in Low Downpayment Loans by Charlesthenurse

2 Answers

+1 vote
Check USDA's website at https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfpd Oklahoma has many areas that are eligible for that zero-down program.
answered Aug 30, 2017 by TimLucas (10,040 points)
0 votes
USDA LOANS and VA LOANS are the two government loan programs that offer 100% financing. FHA requires 3.5% down payment on purchase.  There are down payment assistance programs available in Oklahoma.  Check with the state housing authority and the county in areas where you are interested in purchasing a home. You can purchase the home with FHA LOANS and get the 3.5% down payment on purchase from the DPA program.  Most DPA require that you take a certified housing course and get  a certificate of completion. Keep in mind that DPA is not free money. Depending on the DOWN PAYMENT ASSISTANCE PROGRAM, they may attach a lien to the property and may need to pay it back when the house is sold.

Gustan Cho NMLS 873293
Branch Manager
USA MORTGAGE NMLS 227262
The Gustan Cho Team at USA MORTGAGE
www.gustancho.com
answered Feb 10, 2018 by GustanCho (106,540 points)

Welcome to The Mortgage Reports Q&A Forum. Have your questions answered by experienced mortgage and real estate professionals.

Related questions

515 questions
662 answers
884 users