Mortgage Grapevine poster Loandude99 has a borrower who attended a seminar where that person was told that there are no downpayment loans available from sources other than government guarantors, Federal Housing Administration, Veterans Administration and the U.S. Department of Agriculture.
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Loandude99 is looking to see if that statement is true. The borrower has only $650 in the bank, a 656 credit score and is not employed in a profession (teacher, police officer, fireman, etc.) where special programs exist to allow those workers to buy a home.
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