I am purchasing a HUD home that is uninsurable and requires a 203K loan. My husband and I are also first time home buyers who thought we saved enough money to buy a home but when it's all said and done will be about 5 thousand dollars short. My lender is stating that we cannot use any first time home buyer assistance programs or the "Mortgage Credit Certificate" program because something about her company does not actually hold the loans and if something were to go wrong they would be left "holding the bag"
Are there any mortgage companies out there that would allow us to have a 203K loan and use any of the first time home buyer assistance programs or is this just a lost cause? Any information will surely be appreciated.
Thank you
Read more: Buying a Hud home with a 203K can we also use any first time home buyer assistance?
