Why Homes becomes so pricey now?

deafaussie said:
I am in the process of getting 'Homechoice' loan 30 year 3 % fixed rate from Fannie Mae. This loan, Homechoice loan is designed specifically for first home buyers who have disabilities or more than 2 household members have disabilities. Im Deaf and they have classified me a disability and will get more than 500K loan . Total repayment would be about $1900 a month. IF anyone of you who havent owned a home for more than three years or first home buyer. Get a Homechoice loan from Fannie Mae. Its cheaper and gives you the benefit financially in long run comparing to the traditional banks.
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EDIT. Actually, slight mistake in my part. There is a limit in Homechoice loan which is 417K but I am able to get more than 500K because of the additional loans from other agencies in California.
 
deafaussie said:
I am in the process of getting 'Homechoice' loan 30 year 3 % fixed rate from Fannie Mae. This loan, Homechoice loan is designed specifically for first home buyers who have disabilities or more than 2 household members have disabilities. Im Deaf and they have classified me a disability and will get more than 500K loan . Total repayment would be about $1900 a month. IF anyone of you who havent owned a home for more than three years or first home buyer. Get a Homechoice loan from Fannie Mae. Its cheaper and gives you the benefit financially in long run comparing to the traditional banks.
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I search use google.com and found there is nothing about 3% loan for 30 years. I hope you will not become fell victim. Cause I have not hear anywhere bank has 3% loan for 30 years. You have resource link?.

PS Only I know Fannie Mae had recent trouble law with SEC. <--- pretty unclear what is they do trouble with law.
 
I googled and came out with:

H O M E HomeChoice Home Ownership Program

Home Choice Loan, DSPD

Special Programs for People with Disabilities

Home Ownership Made Easy: Reaching Out and Creating Affordable Housing Opportunities for People with Disabilities &mdash; World Institute on Disability

December Issue of Opening Doors

http://www.tacinc.org/Docs/HH/OpeningDoors/ODIssue6.pdf

Homeownership - HomeChoice Downpayment Assistance Program

The only way you can get this started is to speak with the housing agency/department in your home state. They will refer you to non-profit organization to have you started, attend their workshops. Pass knowledge tests and get certification. The non profit organization will then contact the lender who is authorized by Fannie Mae, to start application to escrow.

My goverment agency is CalHFA and non profit organization is H.O.M.E (Homeownershipmadeeazy) and the lender is Guild Mortgage. Fannie Mae has no direct involvement with me but its a scheme set by Fannie Mae.

Unfortunately, Majority of Deaf people had no idea what that is and they havent taken advantage of. I am trying to tell you guys to get that from them and you will be better off with 4% 30 year fixed mortgage. I got 3% 30 year fixed, I had applied before they upped rates. (I verified 3% 30year on Good Faith Estimate and legal loan papers)
 
There is another one that you might want to reconsider to having a home of your own.... USDA Rural Development Home Page and on your left side of your screen when you click the site and click on Homes for sale.... and pick any states you wish to live at.... And good luck with your searching of buying house....
 
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