It's no secret at this point that Asheville, NC has become a very hot place to live, and an excellent place to invest in real estate. That's great news for everyone that is already doing well financially, but what about the people without the means to put 20% down on their new home. The cost to rent in Asheville has become far higher then the cost to own, making it very difficult for some who have lived here and supported this economy for many years, to be able to save the money necessary for a down payment on a home.
Well, good news. For the willing and determined, there are several programs right here in western North Carolina to help people who have the steady income to support a mortgage, but maybe not enough set aside to make the leap.
0% DOWN USDA LOANS https://www.rd.usda.gov/nc. This program is made to enhance the rural communities nationwide, yet where we live, the map includes just about everything outside the Asheville city limit.
0% DOWN VA LOANS https://www.benefits.va.gov/homeloans/. This program is exclusively for military veterans and is absolutely incredible if you qualify.
0% DOWN FHA AND CONVENTIONAL LOANS with DOWN PAYMENT ASSISTANCE. http://www.mtnhousing.org/services/buy-a-house/ This takes a little more more effort, yet if you are tired of wasting $10,000+ on rent, its a small sacrifice.
Once you have a prequalification letter, your lender should be able to tell you down to the dollar what your REALTOR needs to negotiate in seller paid closing costs. This will ensure not only do you not pay anything for the loan itself, you also are not getting stuck paying for attorney fees, title fees, or commissions.
If you want to buy a home in Western North Carolina, let us help! Remember that a buyer's agent doesn't cost you anything. Call us at (828) 707-5642