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ballofstress12 t1_je2qz2v wrote

If you qualify for the free 17500..you can cover all your downpayment/closing costs and just refinance when rates go down

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Mountain_Bill5743 t1_je3pbwf wrote

How are these offers going? At the income caps, it seems like the prices would have to be very low and the offers would have to be very flexible at a competitive market space.

Just wondering as I am hearing that the low down/FHA offers some friends did aren't really a thing anymore in the competitive starter home space. Realtor friends (actual friends lol, not hired) are saying it's pretty much 20% just to compete and I'm seeing data published at 30% cash offers in some parts of the state.

I do hope it is going well, but I am curious to hear from someone who has successfully navigated the program.

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ballofstress12 t1_je4o9du wrote

I have! I’m buying a house right now with it. I have decent income, good credit, but didn’t have 20k to put down. I’m buying a house for 285k. It’s small and the morgage is high but not comparably to what I’m paying in rent

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ballofstress12 t1_je4oezx wrote

I also hired a really good realtor / lender which helped enormously. They beat out a 20% down offer with no inspection

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