What No Money Down Loans Are available in Texas?

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There are 3 solid programs available for prospective home buyers seeking 100% financing for a former residence and I will elaborate them in plain English for you. I will give you the basic requirements as well as the pros and cons for each. Don't worry; there will be no quiz at the end of this article.

Fha/Tdhca - The first and most base method is a composition of a proper Fha loan which requires a down cost of 3.5% and down cost assistance funds of up to 4% of the sales price that is offered straight through the Texas branch of Housing and community Affairs (Tdhca). This is typically the easiest scenario to qualify for because Fha guidelines are the most lenient for borrowers with less than excellent credit. Typically if a buyer has a 620 middle credit score or higher and no new collections, fee offs or late pays filed in the last 12 months they have a very good opportunity at getting approved. Tdhca will aid with up to 4% of the sales price that can be utilized for down cost and/or closing costs. They do have their own approval process, income & loan estimate guidelines and must characterize the faultless loan box prior to disbursement of funds. There is a small estimate of funds available for this program so the Tdhca is typically inundated with applications that may or may not be approved. Because of this, median closings when utilizing this program can be on median 45 to 60 days depending on volume and market conditions.

Usda Loan Eligibility

Pros: Great for less than excellent credit, no geographic restrictions, most base program so majority of lenders are customary with closing them, no pre-pay penalty
Cons: 2 dissimilar approval processes, income restrictions apply (can't make too much money), requires mortgage insurance, take longer to close, funds not always available, some pre-pay/recapture restrictions apply

What No Money Down Loans Are available in Texas?

"If you have had credit issues in the past this is your best bet. "

Va loan (Veteran's Administration) - The second most base type of no money down program is the Va loan. The application process for Va financing is no dissimilar from any other type of loan. In fact, the Va application form is the same as that used for Hud/Fha and approved loans. It is similar to Fha in which it is a government backed loan but is for current or previous members of the Armed forces only. It is one loan for 100% of the ageement sales price and has no monthly mortgage assurance prime payment. Like Fha this loan typically requires the buyer have at least a 580 middle credit score or higher and no new collections, fee offs or late pays filed in the last 12 months. The rates are competitive and intimately mirror proper Fha rates. Aside from the credit requirements the borrower must have a Certificate of Eligibility and form Dd-214. The one quirk on this program that can at times throw off the process is that Va has their own estimate ordering system. That means your lender does not order the estimate so it can be hard to gauge estimated value and delivery times. This however can be addressed by having your realtor furnish you with a detailed competitive market analysis before securing a property under contract.

Pros: Great for less than excellent credit, no geographic restrictions, no mortgage assurance payment, competitive rates, lower closing costs, may be assumable, graduated cost available under some conditions

Cons: For veterans only, estimate process can be unpredictable, former residence only

"No brainer here. One of the benefits of forces service."

Usda (Rd) - The third option is one of the least known programs on the market and may be the best if buyers fit the criteria. The United States branch of Agriculture has a Rural Housing assistance that helps furnish enough housing for families in rural amelioration areas. Rural amelioration areas do not always mean hundreds of miles out of town but usually just face the city limits where the citizen begins to taper off. Like Fha and Va this is a government backed loan and not directly funded straight through these government agencies. This moderate income loan program is for the buy of a former residence and can be a single family home, town home or condo; no manufactured homes. It is a true no money down program with one lien only, that is de facto calculated up to 102% of the appraised value of the property and not the sales price. This is helpful in cases where the wholesaler does not want to or cannot pay any closing costs; those fees can be rolled into the loan as long as the loan estimate does not exceed 102% of the appraised value. There is no mortgage assurance required, no max in wholesaler concessions, no retain requirements, not small to firs time home buyers and rates are competitive with Fha & Va. Buyers need to have at least a 620 or higher middle credit score, no unpaid collections, fee offs, tax liens or judgments and no late payments over 30+ days in the last 12 months.

Pros: One lien, no mortgage insurance, no cap in wholesaler concessions, roll in closing costs as needed, max loan estimate based on appraised value, no pre-pay penalty, no recapture conditions, competitive rates

Cons: Geographic & income restrictions apply, not as lenient with previous derogatory credit, income restrictions (can't make too much money)

"If you are finding for a quiet home just face of town and have been relatively just with your credit this is absolutely the way to go."

As I mentioned this is just a real basic record of the 3 no money down loan programs available to prospective home buyers. They each have their own respective qualifying procedures and requirements so please consult with a mighty lender for faultless details and quotes.

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Tearing Down the Walls Recommitment in 2009

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Socially Disadvantage communities and our youth time to come have taken someone else hit backwards in our nation from 2000 to 2008. What does 2009 hold for a nation plaque by racism, discrimination, and group injustice against our youth and our communities? Communities, youth, and families have continuously battled to feed their families and keep control of what is going on in the schools principles at home and in their neighborhoods. As I travel through the Southern Bible Belt states and over the Midwest, I continue to see the same old problems in this trillion-dollar nation that we live in call America. Gas prices are off the roof, imports are still fabulous our income, homes, and the price for life has taken us to foreclosure, while the rich continue to get richer and the poor stay socially disadvantage and under-served. The nation has lost its way due to the default of the American citizen judgment and values that have created insensitive Politian's which have not stood for the citizen that have elected them.

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However, we can only fault ourselves the citizen that put these individuals in office. We can't blame whatever except our selves, for the mess in this country. Our vote for the right wing conservative politicians or politicians has gotten us in this mess. The problems regard foreclosures are due to the citizen not working and not having the proper finances to get through everyday life, jobs-income. If you don't have money you can't pay anybody. We can't blame it totally on greedy banks that don't help the community where their customers are because we allow it. We need to make these banks accountability for being in our neighborhoods. Too much money advent in ,and not adequate going into the communities that these Banks are serving. We need to take ownership of poor judgment with the services of corporations and financial institutions that want to be in our neighbors. Many of these clubs build in low -income areas but do nothing to revitalize the community except build high income homes to move out low-income families. The fault lies in the community for allowing these our government officials to have the power over us as they bail out big corporations and allow families to continue to struggle to feed each other.

Foreign sway controls our lives and the government gives permission to big company to take our jobs out of this country and leave us to homelessness, crime, and despair. Lou Dobbs of Cnn has continued to express his concerns on helping the citizen of this country and has asked the administration to reach out to the people. We as a nation are not demanding whatever of our government and allowing our government officials and Ceo's to rap this country blind and them take it oversees for big profits. We as a citizen don't share the same program to help one someone else and to keep our child safe as Dr. King work so hard to make these changes in America and the world. What can we do if whatever to savage a qoute that the state and local law makers don't want to touch?

Discrimination is an insult to a nation with citizen of all colors and values, but we still continue to divide our true principles in life. Not Caring!

Due to the growing Billions spent in Iraq many of our citizens and veterans are left homeless with a Trillion dollar bill that becomes a taxpayer's nightmare. All things is affected by this war in Iraq but our Politicians move on to the next phase of their lives and continues to rake in the money from their interest with big lobbyist. Our administration has become billionaires in 8 years and has continued to rap the country blind. The money that corporations and our politicians are getting from big lobbyist and contracts like Halliburton for Iraq and Afghanistan is a shame. This administration is and has been out of touch with mainstream America needs. Taxes cuts for the rich only help the rich. The rich continue to get richer and the other class of Americans in this country continues to lose All things they have worked so hard for. It's a lot talk about helping the American citizen but citizen in this country need immediate help not a lot of talk.

Cnn and other network broadcasting news stations are having argument about the cheaper and how the failing government can bailout big banks like Bear Stearns and watch politician raise millions of dollars to become the newly elected President of the United States, but we can't help the American citizen in New Orleans or get books in our dilapidated schools. Why does it cost so much to become President only to rap the citizen of this country once again. Senator Clinton, Senator Obama, and Senator McCain has spent millions for a campaign while the economcy is falling to it knees. It's a shame that they along with the rest of those Senators spend billions of dollars for a race that only helps the rich. Shouldn't you be tried of this kind of politics?

Minorities especially Black African American citizen in this country have been discriminated against for more then 400 years, yes, slavery ended but discrimination has went on and on. The unemployment rate is double when it come to African American and that has been the qoute sense slavery. African Americans are continually getting the shaft on the jobs, good schools, and within the community that they live in. Poverty in our communities is growing like a plague and the rich get richer and the poor stay poor, yes you have heard this before. The community and outreach centers for the under-served community have gone and we haven't substituted them, only to see empty and vacant buildings only to be torn down and sold to developers, while watching developers buy the land and build new homes that are out of reach financially for that community which is being displaced. Poor citizen just don't have an advocate with adequate muscle and power to make a turn in America.

Dr. Martin Luther King Jr., died in 1968 because he was the advocate for the under-severed (poor people) and they kill him for it. Dr. King was struggling to turn how citizen look at one another. Blacks living in New York or white citizen living in Mississippi or Kentucky without condition care is no distinct when it come to discrimination. It's being poor. Dr. Martin Luther King Jr. Fought to tear down the walls for injustice. He fought for equality and fairness but the rules turn rapidly and many of the issues he fought for went underground. Yes, we have had some strive in equality but it hasn't fixed a broken citizen yet in this country.

Washington, Dc and the power to be continued work the same way they have been for decades, but we as a citizen can make changes among our own lives to help one someone else and to cherish the values that we have in our families for this nation.

The Usda National Statistical assistance and U.S. Census Bureau, provides statistics of despair indicating a decrease in minority farming, loans, home buying, the list goes on and it continues to get worst. You don't need to have a degree in Business, Agriculture, or Mathematics to see that American minorities are hurting and no one cares. Just go to your local company and see the disparity among expert jobs, with Black-man/women, Hispanic-man/women and other minorities that make up this rich nation of our. The prices that the poor citizen pay is fabulous and it is going to get worst everyday.

In 2006 the Forbes Magazine posted it Forbes 400 Billionaires in this country. We should have citizen in this country that has exceeds the rules, but when it come at the cost of the citizen doing the work that a shame. Many of these Billionaires became wealth because person else did the work and they capture the riches by providing the management, guidance's, and money to get those riches. But we need to continue to help those that are less fortunate and help them perform they goals as well.

However, discrimination has continued to knock the doors down and others out of business. There has been a lot of celebration in the 20th century for many reasons, Civil ownership moments, and the death of Reverend Dr. Orange a civil ownership leader, the opportunity of the Rosa Parks Museum, and the 40th Anniversary of the tragic assassination of Dr. Martin Luther King Jr. In Memphis, Tennessee and the list goes on. We should have leaned a lot sense Dr. King's death but the walls of injustice are still a part of African American citizen and it needs to be torn down and rebuilt so that group buildings or reorganization is done. Our community continues to put-up walls so our low-income American can't survive in an manufactures that make Trillions for some. Although racism and discrimination was even stronger them it has not lost any wind sense 1968.

Tearing Down The Walls should have been our first priority in the 20th Century but we are 4 months into the 2008 fiscal year and 2009 is staring us down. We should turn up the heat and eliminated the Walls that divide us. The power brokers in this country need to turn how they look at poverty and not shove it under the carpet. Many of these issues are continuing, growing problems in the middle of our country and we as a citizen need to continue the battle and make our leader accountable. Discrimination can be reformed by understanding the anger that has interrupted the strengthen for success. We need to reposition our values that fuel these problems and stand-up and fight for equal justice for all, like Dr. Martin Luther King Jr. Did for All. His fire has all the time been in us, let's not give it back and fight for our rights.

By Dennis S. Murray Sr.

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Tearing Down the Walls in 2006

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Socially Disadvantaged Farmers and Ranchers have taken other
hit in 2005. What will 2006 hold for an commerce plaque by racism, discrimination, and social injustice? Farmers, ranchers, laborers, and producers have continuously battled to feed their families and keep control of their land, while trying to supply excellent agriculture products for growing America and aboard. As I traveled straight through the Southern Bible Belts states and over the Midwest, I continue to see the same old question in this billion-dollar industry. The rich get richer and the poor stay poor. Many small farmers and ranchers have loss their land due to default on loans, poor judgment in loan process, trust of the government, and more. What can we do if anything to savage a question that the state and local government don't want to touch? County agencies still are not accountable for the discrimination and insults to customers they are paid to sever.

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With the growing bills in Iraq many of our citizens are left homeless, leaving a billion dollar bill for taxpayers to pay while our politicians move on to the next phase of their lives. The past 2004 Farm Bill didn't address the needs of our farmers and their families. It in case,granted no additional monies to help minority farmers with loans or grants even though agencies consistently assure customers straight through their web site that loan and grant money are available. 2005 disasters and a three-year-old war and counting take precedent over helping needy farmers. No one is implying that the aid to New Orleans and the War in Iraq is not worthy, but the problems with socially disadvantage farmers and ranchers existed before Iraq and the 2005 disasters. It is a disaster that aid hasn't taken place to help these farmers and ranchers. All things that is done for other country impacts our pocket and bottom-line. People say, "What does the war have to do with Farming?" Farmers are affected when the allocation for funding crop relief is impacted, with discrimination playing a major role on who get this relief. With continuous decline in asset loss, bringing our farmers to there knees.

The Usda National Statistical aid continues to supply static's indicating a decrease in minority farming and it continues to get worst. You don't need to have a degree in agriculture or mathematics to see that they are hurting and know one cares. Just go to your local grocery store and look at the prices of produce, goods, and services. The prices are breathtaking and it is going to get worst, because no one certainly cares.

In Hope Hull, Alabama, the price to do company in an commerce of landscaping and farming continues to bring price fixing, discrimination, injustices, and more. Mr. Robert Lee Jackson of B-J Landscaping and Contracting aid has been in company for over 40 years providing goods and services to a community that has grown sense the Jim Crow days in Alabama. However, pricing and discrimination has prolonged to knock Mr. Jackson and others like him out of business. But Mr. Jackson is not going anywhere. He has taking his cases to Washington, Dc and wants the discrimination and price injustice to stop.

Mr. Jackson has been complaining to the Alabama courts and their lawyers for years and has not gain any reserve about the lack of pay and monies owed to him by corrupted contractors. There has been a lot of celebration in Alabama for many reason, civil right moment, old Governor Wallace reclaiming of his wrong doing, and now the late death of Rosa Parks.

But no one is making anything accountable for the problems and lost of contracts, monies owe to contractors and community businesses like B-J Landscaping. Responsibility is poor and so are the contractors that are losing company everyday in Alabama and other states. Wrong doing to our taxpayers in Alabama and the lost of company that is generated straight through discrimination is simply a mistake going into 2006 and the future. Mr. Jackson said before finishing a project " He as sub-contractor has in many incidents been removed from a project from the (contractor) and was given seven (7) days to do a job and was ran off the asset before it was terminated and give the work to man else to do" only because he the undertaker of a package deal could. Many of these contractors get the work because they have a minority undertaker of a package deal on the job when they bid for it, and often these contractors are awarded because of having a minority contractor. Only to fire the minority undertaker of a package deal when it is convince for them (contractor) and gave the bulk of the workload to a non-minority (white) person.

The walls of injustice need to be torn down and rebuilt so that social structure or reorganization is done. Our community continues to put-up walls so our low-income farmers and ranchers can't survive in an commerce that many farmers and ranchers have made a living at for centuries. Although racism and discrimination was even stronger then, many are being push out due to economics, technology, and rules changes, and discrimination. The contracts are wordy, the loan applications from banks and other lending organizations are very difficult to understand, and many of our farmers and ranchers are illiterate even in the 21st century.

Tearing down the walls must be our first priority in 2006, because many of these issues with this growing question between our farmers and ranchers will continue to exist. Partly the blame is the government that fuels these problems and partly the blame lies on our farmers stand-up and fighting for equal justice straight through voting and lobbying your congressional representatives. But we need to stop the existing discrimination and injustice against our farmers Now. Usda self described "indifference and blatant discrimination" against blacks in federal lending practices and programs from 1981 to 1996. But the lawsuit resolution just got People stirred-up and problems escalated with no resolve. The Responsibility in these matters continues to exalt and we as taxpayers, grocery buyers, professionals, look the other way or just don't understand the issues.

Many community base organizations and Politians see these problems as never ending, but ending this long-term question is our way out. District and Ward representatives are not focused sufficient on the social dysfunction displayed in Rural America, that's one of the reasons, Senator Kerry loss the presidential selection in 2004 in the south. Rural America families are not being addressed in the issues when it comes to our Socially Disadvantages Farmers and Ranchers. This is very similar to our People of New Orleans, that are in need but we won't help them either, because community rather see poor People in need then to help them lift up there heads from drowning in a sea of nowhere. Drowning is a way that community say we can't help you because you are already lost in poverty. Tearing down the walls should be our first priority in 2006 and getting rid of the term Socially Disadvantage. Helping generations of house farmers and ranchers become more independent in this billion-dollar industry.

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