Expert: Dottie Worthington - 8/7/2004

Question
My husband and I live in Texas and we would like to be first time home buyers.  We have low to moderate income level and would like to find a program that will help us purchase a house with no more than $500 down and financing the closing costs.  I know there is such a thing, but I don't know where to begin looking for it.  I am totally lost and trying to read some of the internet sites has only confused me more.  We don't want to just keep trying lenders until we find one that could do that because the more times they run our credit, the more it will hurt our credit score.  We are ready to act now.  Can you help point us in the right direction?  We would really appreciate any help you could give in this area.  Thank you very much.

Answer
Dear Misty:
I don't know what town you are in or I could suggest someone maybe. Most reputable mortgage companies over first time rates with no money down. Shop around for a rate and don't give them your social til you know that is the one you are going to use!