Sentences with phrase «prepaid items required»

The purpose of this program is to make funds available to eligible applicants who are interested in purchasing a home but need financial help to pay the upfront costs, which include the down payment, as well as the closing costs and prepaid items required to obtain homeownership.

Not exact matches

Since VA loans don't require a down payment and closing costs are normally paid by the seller, many VA loan recipients end up putting that money toward closing costs and prepaid items or even getting it all back.

Among a few of the dollar amounts it requires are the purchase price or refinance amount, estimated prepaid items, estimated closing costs, PMI, discount points paid to lower your interest rate and any closing costs paid by the seller.

A refinance transaction in which the new mortgage amount is limited to the sum of the remaining balance of the existing first mortgage, closing costs (including prepaid items), points, the amount required to satisfy any mortgage liens that are more than one year old (if the borrower chooses to satisfy them), and other funds for the borrower's use (as long as the amount does not exceed 1 percent of the principal amount of the new mortgage).

Post Closing Reserves Required By The Lender (If Applicable) Depending on the purchase price, state and loan type, Closing Costs and Prepaid Items can range anywhere from 2 % - 5 % of the home's contract price.

A prepaid card and a secured card can both help you pay for items, in fact they both require money up front.