Ticker

6/recent/ticker-posts

My boyfriend and I are looking to purchase a home in the Johnson County, Kansas this spring. We have a small down payment and will probably need down payment help for a conventional home loan. We need to stay in the area because of our jobs and would like to put our hard working money into a home. As first time home buyers, are there any down payment assistance programs?

Question: My boyfriend and I are looking to purchase a home in the Johnson County, Kansas this spring. We have a small down payment and will probably need down payment help for a conventional home loan. We need to stay in the area because of our jobs and would like to put our hard working money into a home. As first time home buyers, are there any down payment assistance programs?
Janice from Olathe, Kansas


Answer: Great question, Janice. If you have less than a 5% down payment for a conventional mortgage don't worry. There are some other loan programs that you may qualify in order you can buy a home in Johnson County, Kansas.


First, if either you or your boyfriend are veterans, you may qualify for a VA home loan. a VA loan will allow you to buy a home with nearly zero down.


If the VA option is not available, you may qualify for a FHA home loan. With a FHA home loan, a borrower could buy a home with less than 5% down. In addition, the requirements are a little looser for FHA versus a conventional home loan.


If you buy a Fannie Mae foreclosure, you may qualify for a Fannie Mae Home Path home loan. This home loan program will allow you to buy a qualifying Fannie Mae foreclosure home with $100.


If you want to buy a home in a USDA area, you may qualify for a USDA Rural Development home mortgage. A USDA RD home mortgage allows a home buyer to buy a home with nearly zero down. Areas in Johnson County that qualify for a USDA home loan are Gardner, Edgerton, DeSoto and Spring Hill.


Hope this helps, Janice.  







RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Another blog post written by:
The Real Estate Wizard of Kansas City
The Real Estate Wizards of Kansas City

Comments are appreciated! Go ahead and add your 2 cents . . .
Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers.
Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.


Post a Comment

0 Comments