Fha Loan Limists Raised In Maricopa County

The Fha mortgage loan limits have been raised across the country. In Arizona, Maricopa County went from just over $270,000 to over $346,000. This should more people be able to buy more expensive properties. We need to reduce the real estate inventory if we are ever going to stabilize housing prices. Too much supply and not enough demand. I think the next step is to raise the conforming loan limits as well as allow people who have a good payment history to refinance even if they are upside down. Obama seriously needs to take a look at this as well as bringing back some of the down payment assistance programs like Nehemiah or Ameridream.

What is Nehemiah?

How do you get Free Money

How do you get free money? You can get free money to buy a home from the Ameridream corporation. You can get up to a 10% gift of the purchase price. You never get it back and its yours to keep. All you need to do is ask you loan officer to enroll you in the Ameridream program. It is that easy. The only kicker is that it will only work for an fha loan.

How do I get free money

Ameridream may be going away - ameri dream

Hud is trying to impose a new rule to get rid of the charitable down payment assistance programs like Ameridream. Tell Hud that that would be a disaster in todays real estate market. Anything we can do to stimulate the real estate market would be a good thing. Taking dpa away would cut out 200,000 housing opportunities a year. Imagine what this would do to an already sluggish housing market. Tell Hud they have it wrong. Tell Hud that they need to support Ameridream and other down payment assistance programs. Go to Support Home Ownership to leave your comments.

What is Ameridream

What is Ameri Dream?

What is Ameri Dream? Ameri Dream is a down payment assistance program to help low and middle income people buy homes. You can get up to a 3% down payment gift through the Ameri Dream non profit foundation. You can also get an additional 3% assistance for closing costs. So you can buy a home with no money down and no money out of pocket with Ameri Dream. The best part is that you can move into your new home with an immediate 3% equity. This is even a better deal than the Fannie Mae My Community loan program. On the My Community loan program you could get in for no money down but you would not have any equity if you did the 100% loan.

What is Ameri Dream?

Mortgage Education

How do you get an FHA loan?

How do you get an FHA loan? It's actually very easy. The majority of mortgage brokers, banks and lenders can arrange an FHA home mortgage for you. FHA allows people to buy homes with lower credit scores. You can even have collection accounts. Ask your loan officer to see if the can pre qualify you. It should not take very long and there should not be a fee to do this. You may also want to ask about the Ameridream gift program. You can get up to a 3% gift of equity with this program so be sure to ask. A seller has the option to pay all of your closing costs as well. So technically you can buy a home with an FHA loan with no money down and and no money out of pocket.

FHA information

What is Ameridream

AmeriDream is a 501(c)(3) charitable organization that is committed to helping those who want to purchase affordable and suitable housing and need financial assistance with their down payment and closing costs. As a buyer you can negotiate with a home seller to give you a 3% down payment and cover all of your closing costs. This give you the ability to buy a home with no money down and move in with a little equity. To find out more about the Ameridream down payment assistance program, contact your Realtor or Loan Officer.

Additional info on Ameridream

Free money to buy a home

No I'm not crazy. With the Ameridream program you can get a seller to contribute 3% of your down payment for your home purchase. If you don't have any money, the fha will also allow a seller to pick up all of your closing costs. Effectively you can still buy a home with no money down and have equity in the property. The key is to find a seller that is willing to provide you this funding. With the real estate market the way it is, sellers have to be more aggressive in the marketing of properties. A seller can give you up to a 6% concession on an FHA loan. In a buyers market, you should be able to find a seller that is willing.

Get me gift money

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What is Ameridream?

Ameridream is a non profit company that helps low to moderate income individuals or families by a home by providing down payment assistance. The Ameridream dpa program has been setting the standard for which all other down payment assistance programs strive to be. To get the Ameridream cash assistance, you must find a seller that is willing to participate in the program. The seller pledges money from the proceeds of the sale to the Ameridream foundation. In exchange Ameridream will gift the buyer the down payment needed for the FHA financing. Typically it is 3%.

More info on Ameridream

The best real estate deal if you are buying a home is Ameridream

If you are a low to moderate income buyer and are looking to buy a new home, then you might want to get a gift of equity to buy your home. AmeriDream is a charitable company who is committed to people being able to buy a home who need down payment and closing cost assistance.

More Information

What is the Ameridream program?

AmeriDream was established in 1999 as a 501(c)(3) charitable group creating home buying opportunities for qualified low to moderate income individuals and families to purchase affordable homes. AmeriDream provides a wide range of programs to benefit the individuals and families its serves including foreclosure prevention, providing financial support through privately-funded down payment assistance and home buying education.

The AmeridDream Downpayment Assistance Program was created to overcome the greatest obstacle to owning a home which is usually the downpayment. The downpayment gift never has to be repaid. The program has helped over 400,000 qualified homebuyers become home owners. AmeriDream is recognized as the most trusted and valued name in the gift assistance arena.

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Is FHA the best loan right now to buy a house?

FHA mortgage loans are right now the best way to buy a home for no money down. If you live in an area where Fannie Mae or Freddie Mac has deemed a declining market, your appraisal will be reduced by 5%. This means that that 100% financing program you were trying to get will require you to bring in 5% down payment now. So what is a buyer to do? You should apply for an FHA loan. You can buy the home with none of your money. You will still need to have 3% of your own money in the transaction but you can get that in the form of a gift or the Ameridream program.

The Ameridream program is basically legal money laundering that the government has set up to get home buyers their down payment. The seller can also give you the money through the Ameridream foundation. They don't directly give it to you, the Ameridream Foundation will pass it through to you at closing. Either way it works. You will need to provide your full income documentation including tax returns and pay stubs. You will not need to have any reserves in the bank and there is no minimum fico or credit score requirement.

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