I have $5,000 in savings, can I purchase a house with just that amount? Income and credit are good, just lacking in the savings area.

There are down payment assistance programs that will allow you to borrower or be granted the down payment. I have worked with many clients who have purchased their home using CHFA (Colorado Housing & Finance Authority) assistance. This down payment is a grant and is not required to be repaid. For more information, you can contact me at 303-407-0824. Nick Bebout - American Liberty Mortgage.

Most if not all of Mead, CO is eligible for USDA Rural Development loans. As you get closer to Niwot & Longmont, properties are no longer eligible but as long as you stay in the USDA areas, you can get 100% financing. Zero down.Pair that up with a no closing cost loan and you can get into a house for very little out of pocket. I've had several clients in the last 12 months get most of their earnest money back at closing w/loans like this. Call if I can provide more insight about these loans. I do many of them & I'm a big fan. There are qualifying limitations. First time homebuyer, income under a certain # (based on county), etc. ThanksJason Berman970.455.413http://facebook.com/jbermangroup

I went to College and lived in Greeley for several years, so I am familiar with where Mead is. USDA would be the loan program, that allows for 100% financing. There are income and asset restrictions which I could go through with you. Be happy to visit with you more if you wanted to call me at 970-748-0342. Chris Neuswanger, Macro Financial Group. My web page is www.mtnmortgageguy.com I serve clients all over Colorado.

More info needed.. Conventional loans require 3% down.. so if you are looking at a $167K sale priced home, and you can get the seller to pay your closing costs, then yes.. you have enough.. You can also look at using USDA for financing.. it's 100%, but you still have to pay for closing costs.. For this program to work, you have to purchase a home in a USDA defined area.. Also, if you have VA benefits available to you, then you can do 100% financing as well. There also could be some local grant programs available to help with down payment assistance.. For this reason, I suggest you contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347