What financing is there available in Palm Springs to Buy a Home?

How can I afford a home in Palm Springs?

With prices coming down now isn’t this a good time to buy? Yes, you can even use an FHA loan to buy a foreclosed property in Palm Springs.

FHA Loans are available for property in Palm Springs

100% Financing still available with FHA Loans

Here is a quick look at current FHA programs for financing your new home in Palm Springs.

Maximum financing is 97% Loan to Value, but can go as high as 100%.

6% Seller contribution allows the seller to pay closing costs, prepaids, discount points and other associated closing costs.

You do not have to be a first time home buyer, but this must be your primary residence and you cannot purchase another primary residence with an FHA loan. You do not have to be a first time home buyer.

Some lenders will accept nontraditional credit references and some will not require a FICO score.

There are also a number of down payment assistance programs available that would require little to no out of pocket money to close on a loan.

Programs include ARMS (1 yr, 3/1 and 5/1) 30 and 15 year fixed

The current loan limit, set to expire at the end of the year, for Palm Springs is $500,000.

For more information, please contact me at 760 485 0858 or by clicking here.