More and more we are hearing from our lenders that loan programs, especially for first time home buyers, are disappearing. 100% financing, 95% financing, even stated income programs are becoming endangered if not extinct. Don’t let this prevent you from taking advantage of the current buyer’s market; there are still great programs available. Although the 100% financing options have disappeared, in it’s place we have the revived FHA program without the strict qualifications and requirements it demanded years prior, when combined with the down payment assistance program you essentially have the same 100% financing. Even an FHA loan without the down payment assistance program is still a great option, with only 3% down compared to the 15%-20% down payments we saw required years prior. Although lending options are changing almost daily, there are numerous programs available that include both low rates and fixed interest.  

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