Can we get a good deal through a goverment loan? We have no money down!!?
My husband and I have VERY casually looked at houses to rent or purchase in the last 2 years. We came across one (by accident) for sale. It is a VERY good price. We walked through it and fell in love 🙂 Well now we are trying to find our way around this whole NEW world of buying a house (if we can). We have NO money down. But we have found that we qualify for a government loan through Western Ohio Mortgage Corporation. They do Fha, zero money down, etc….. We sent in the application today and are awaiting word. Now my question is has anyone done this before or can tell me more about it? Does it mean no money down really, what about closing costs. Will it effect us in different ways if we are approved for zero down, will we have a higher interest rate? What are some other things to consider? PLEASE HELP!! 🙂