Mortgage Options in a Historic District
There are many choices for financing, some specific to our homes.
Standard choices include conventional with as little as 5% down, FHA which is 3.5% down, and VA which offers 100% financing.
Not all homes will qualify for some of those options so it's important to see what financing choices are available to YOU first, before you begin your search for the right property.
If you fall in love with a home that needs repairs or a full restoration you may want to consider renovation financing which allows you to roll the cost of renovation into the primary loan itself. Not all lenders offer this so be sure to talk to your local real estate professional up front if you're considering this option and they can direct you to the lenders who offer that.
There are programs for first time buyers that offer downpayment/closing cost assistance and special programs for doctors, teachers, and police/firefighters. Be sure to see if one of those is right for you before you begin your property search.