December 2013 - State College Homes and Properties for Sale

Ring in the New Year with all of the fun events and activities that State College, Pennsylvania, has to offer. Whether you’re looking for an afternoon out with the family or a local college sporting event on the weekend, you can find it in the area. Here are 5 Things To Do In State College, Pennsylvania – January, 2014…

Discovery Space

When: January 1, 12:00 – 5:00 pm

Admission: $3 per person

Head out to Discovery Space for half-priced admissions and fun for the whole family all day long!

SLEDDING-SLab Cabin Park

When: All month long

Admission: Free

Head out to Slab Cabin Park all month long for free admission for a day of thrilling sledding for the whole

family.

Holiday Book Drive – Barnes & Noble

When: January 1, 9:00 am

Admission: Free

Bring your old books out to Barnes & Noble in State College for the last day of the holiday book drive

donation.

First Day Hike

When: January 1, 1:00 – 2:00 pm

Admission: Free

Head out to Black Moshannon State Park in Philipsburg to ring in the New Year with a 2.1 mile hike.

Sweet Yinzers @ Elk Creek Cafe + Aleworks

When: January 4, 8:00 am

Admission: Varies

Make your way out to Elk Creek Cafe & Aleworks to experience the sweet harmonies of Pure Cane

Sugar.

Oftentimes, first time home buyers are intimidated by the thought of a down payment. Do not let the idea of paying a lot of money upfront discourage you from searching for your perfect home. If you know where to look, it may not be as difficult as you think to buy a home with little to no money down. Here are some options to look into before buying a home.

OHFA’s Down Payment Assistance Grant

Do research on whether or not you’re eligible for one of the grants from the OHFA. If you qualify, you can choose to take advantage of the Down Payment Assistance Grant and they will issue a grant in an amount of 2.5 percent of your home’s purchase price.

Conventional Loans

A conventional zero down payment loan can usually be available to people with high credit scores and carry higher interest rates. The mortgage loans usually require a down payment anywhere from 20 to 30 percent of the value of the house being purchased.

VA Loans

This type of loan is for veterans and others who qualify, and is usually the best deal around. You can get a loan for no money down and there is no requiremnt for mortgage insurance, because the cost is picked up by the U.S. government. A funding fee of 2.15 percent of the loan amount will need to be paid if you take out the loan with no money down. However, the cost can be rolled into the loan amount so you don’t have to pay it upfront.

FHA Loans

The Federal Housing Administration is often the first place most homebuyers look when they are seeking a low-down-payment mortgage. A down payment can be as little as 3.5 percent. Unfortunately, the fees can add up over time so do your research to make sure that this is the best option for you.

Creative Zero Down Payment Options

A number of other creative purchasing options exist. Sometimes the seller of the house is willing to finance your home purchase on their own. So, instead of making monthly payments to an institution, homebuyers would make payments to the seller directly.

Buying a home with little to no down payment isn’t always easy to find. However, if you know where to look, then you have a better chance of finding the best option for you.

To learn more about buying a home with no down payment, visit here.