I know one the most harrowing experiences is buying a home and looking at all the choices for mortgages. You would think DNA testing would have to easier than this. Honestly though, it is definitely not that bad once you’ve done it a few times.

Besides the convention loans out there (the ones you put down 20% or more down), you should definitely check the other kinds of programs they have out there.  For example, there is such a thing called Flex/Fixed buydowns. Sellers are able to buy down the initial interest rate for a set period of time.  The buyers then temporarily are able to pay a lower monthly payment.  There is also down payment assistance programs.  I know my bank has over 900 various programs that are offered from coast to coast.  If you are a senior over the age of 62, you could qualify for a reverse mortgage.  With this loan, you are able to use the equity from your primary home with no payments required until the primary residence is vacated.  You can also get Purchase & Renovate loans.  You are able to combine both the financing of a home with funds for home impovements you may need to make.  This allows you to take advantage of those “as is” homes and foreclosed ones too.  The loan amount is based on the value of the home after the improvements have been made.

As you can see, there are several different types of home loans you can look at.  Now, this is just a small sliver of all the programs and loans out there.  There is a program out there for almost everyone that works with theirr needs.