I just received an email from a Bank of America loan officer. They are one of the few lenders I suggest doing business with. Contact me for a free, no obligation consultation on which lender may best for you. You may also call me toll free at 1-800-620-1323 x7.

Take look at what Bank of America has to say about October 2007 vs. October 2008.

• Then:  100% financing available on conventional loans
• Now:   100% financing available for veterans, 97% financing available on FHA loans, 95% financing available on conventional loans

• Then:  Down payment assistance programs available
• Now:   Down payment assistance available up to 3% from gift funds

• Then:  Minimum credit score of 560 required on an FHA loan
• Now:   Minimum credit score of 560 required on an FHA loan

• Then:  Borrowers Protection Plan available on No Fee Mortgage PLUS loans only
• Now:   Borrowers Protection Plan available on all conventional loans

In summary, it may take a minimal down payment to purchase a house if you are not in the military, but loans are still being made. It does not take perfect credit to acquire a home loan, as evidence by a 560 minimum credit score. If you have issues with your credit, loan officers will advise you on what changes are needed to get you set up for a home loan. Those changes are not always self evident.

By the way... not a thing has changed with VA home loan financing. It is very easy to qualify for. And it is still with NO down payment. The interest rate is typically at whatever the going interest rate is for someone with top notch credit even if the veteran's credit is not.

Loan officers will consult with you for free. You can click here to request  to speak with a reputable loan officer in the Columbia, SC real estate market. If you are in the military and PCSing to Fort Jackson, please click here.

Click on the link to sign up for an up-to-date full list of available new construction homes in the Columbia SC Real Estate market that meet the needs of your family.

Your Columbia South Carolina New Home Specialist, Adrian La Fosse