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closing cost assistance for rhose island residents!

i'm a first time buyer and thought i had saved up enough for a loan - down payment, and extra just in case. i had no idea closing costs existed and now they would really cut into my moving budget. is there any closing cost help? i assume there would be income limits - mine is 59k/year
By justinreichart7634541 from RI Nov 19th 2014
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Hi Justin, My bank does offer $0 closing cost options for purchase loans. There are also a few other options as well to reduce or even eliminate having to pay closing costs out of pocket. If you'd like more information, fell free to give me a ring. I am located right in Seekonk and do loans throughout MA and RI. (866) 640-5513 or jarred@betterfinancing.net

Nov 19th 2014

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Yes you can discuss with your mortgage pro and Realtor about a sellers concession which allows you the ability to finance in your closing costs. You can take advantage of the " 0 closing cost " option that lenders offer, just keep in mind they will be raising your rate to cover the closing costs. Speak with a local pro and have them discuss both options and the cost for both and see which works best for you. There are also down payment assistance programs that may be available to you as well, again, ask your local professional as these programs are area and usually income specific.

Nov 19th 2014

Seller paid closing costs is the solution Justin.

Nov 19th 2014

Hi Justin. I am in the Mass area and you do have a few options one is going with RI Housing if you qualify. two is seller paid closing costs and 3 is bank paid closing costs( not the best one but is an option) so call me to discuss 508 802 0935 or email me robertoliveira51@gmail.com with Province Mortgage in Providence RI.

Nov 20th 2014


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