can i do a 103 perent mortgage to include closing?

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the home is a foreclosure and we just found out we can’t do seller assist, since this home is going in 4 weeks to foreclosure, it’s sooner than we wanted to purchase, our income tax won’t be back in time to help, so can we take the closing in the loan? yes i left a message for my mortgage broker but he’s in a meeting so therefore i am asking so when he calls back at least i have some knowledge of whats happening.

  1. Reply
    Judith G
    January 19, 2011 at 11:14 pm

    ask your broker if he can raise the purchase price and negotiate some creidt from the seller.

  2. Reply
    January 19, 2011 at 11:19 pm

    There are some programs that will allow you to do it. It is best to have above average credit for such a program though.

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