There is a program for buyers outside of certain city limits that is for rural development. Fort Calhoun (15min. outside of Omaha) for example qualifies for USDA Rural Development and therefore can loan up 103% of the purchase price of course there are some stipulations (cost of home & income regulations) but it is a wonderful program if you are not in the metro area.

Hi Todd,

I have just had experience with a contract doing this lending program that gets you in for no money down. I can help you get in contact with a lender with such experience. Not all sellers will be willing to gift the 3% but it's all about finding the one that will and with certain negotiations, it usually works out. Please feel free to contact me if you want more information. 402-571-5887 or send me an email through my website ColleenWoodward.com

Thanks Ken for the response. They are tough here in Nebraska on gifting from a buyer so may be best to consult the local lenders.

Sincerely,

Billie

Hello Todd,

Although I'm not in your area, Billie is giving you great advice. Try looking into FHA financing with a Down Payment Assistance program. An FHA program will require 3% as a down payment, if you use a Down Payment Assistance Program, the Seller can "gift" you the down payment and your be able to purchase a home with very little money. Speak to a lender and weigh your options.

Good Luck

There are programs for first time buyer's. Go with a good local lender to get preapproved. They can recommend the best loan that meets your needs. That is always your first step. If unsure, your Realtor can set up a meeting with a great lender to begin the process. After that, you know what you need and can afford and are ready to go shopping for your perfect home. This is a great time to buy !. Let me know if you need help.

Sincerly,

Billie