- Free Down Payments Help Stimulate Housing Market

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Free Down Payments Help Stimulate Housing Market
Added: 01/10/2004 Type: Summary Viewed: 743 time(s) [ Not Rated Yet ]

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Free Down Payments Help Stimulate Housing Market

Sixteen national organizations provide grants to buy homes. These are gifts which do not have to be repaid. The money can be used for a down payment and closing costs. Some of the organizations also allow debt consolidation to qualify for the purchase loan.

To further stimulate the housing market, home buyers can even qualify with credit problems. There are a few grant providers that do not require an FHA home loan. Any mortgage lender that
allows the down payment to be a gift from a non-profit organization qualifies for the grant program - this includes subprime lenders offering loans to people with less than perfect credit.

To round out this program, home buyers can also take advantage of these two lucrative offers: 1). unique home loans and 2). free access to foreclosure databases.

Combining the down payment grants with easier-to-qualify loans and foreclosure homes almost guarantees more home sales. This is a bold statement. But when reviewing loan programs like
these, it's understandable:

- No money down. No income verification.
- 3% down. No income or asset verification.
- No money down. 580 credit score.
- 15% down. Mortgage history only. Ignore other credit.
- Zero down. 107% purchase. Pays your closing costs.
- 5% - 15% down. One day after bankruptcy discharge.
- 100% 2nd mortgage. No credit score.
- Construction loans. Credit problems ok.
- Refinancing if in bankruptcy or foreclosure.
- 125% of appraised value. 2nd mortgage.
- Loans with no appraisal.
- 10% down rental property. No income or asset verification.
- Manufactured homes in parks or on leased land. Credit problems ok.

With the financing in place, home buyers need to locate affordable housing. By accessing 21 foreclosure databases, one is sure to find a bargain in their local area. Since all
foreclosure databases can be accessed freely online, home buyers can start shopping immediately.

The grant providers, unique lenders and foreclosure databases are located at http://FlexibleLenders.com.

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