first time home buyer – owner loan

Brandon

i am located in pa. and have served as a mortgage officer and title manager for 10 years, the usda rural program is excellent, as is the fha program, if you are in lackawanna, and luzerene counties they offer programs particularly for buying in the city of scranton and wilkes barre, check with you local county officials to see what is available, for example if u buy in scranton they will match dollar for dollar the downpayment up to 7000 and give u up to 3000 for closing costs, there are parameters as you must keep the house or everyone would buy and sell, they take a second mortgage and forgive 500 a year for every year u r in the house, so if you took the max after 20 years, they forgive the second, sell in less time you must pay off the remaining balance, and yes most programs have an income limit based on the number of family members, check out your local community, and talk with a good mortgage officer at a bank you trust for starting points, they should be familar with most the local programs. gl

response to ron berue, way to go great answer, wish there were more realtors like you.