How To Buy A House With No Money Down
Many people never buy the home of their dreams simply because they dont think they have enough money for the down payment.
(PRWEB) March 5, 2004 -- Many people never buy the home of their dreams simply because they dont think they have enough money for the down payment. Theyve been told through the years that they need 10 or 20 percent of the purchase price in order to buy a home. Well, this simply isnt true.
So why have so many real estate and mortgage companies told them this?
Quite honestly, its because selling homes to people with 10 or 20 percent down is easier than selling homes to people who have little or no money for a down payment. Most real estate sales people would rather go after the "easy sale" than try to help people who have special needs.
As a By Referral Only Mortgage Consultant, my mission is clear: To Help People. Thats why weve created this special report and sent it to you with no obligation.
This report is designed to let you know if you are currently employed (self employed or wage earner) and youve been out of a bankruptcy for at least 2 years, the chances are we have a zero down home loan for you.
107% Loan to Value to $650,000 - This program allows you to finance 100% of the sales price plus allows you to finance your closing costs which are generally close to 3% in most areas. The remaining 4% can go towards paying off debt or making repairs to the property. First time homebuyers are limited to 103%. Home loan amounts go as high as $650,000.
100% Loans to $4 Million - These home loans will finance the full sales price. Closing costs cannot be financed however most programs allow the seller to pay your closing costs of your home loan.
100% Loans with Damaged Credit - We call this our "Deal Saver" program. If you have less than perfect credit we can still finance your home loan up to $1.125 Million. These home loans will focus more on your job strength and previous mortgage or rent verification. Your credit score has a lot to do with what kind of interest rate you will receive. These home loans are to get you into the property and then you will look to refinance after your credit improves. We can do this on investment properties as well up to 4 units.
100% "Stated" Income Loans - These types of home loans are for people that write off most of your income. Typically, this means the self-employed, but W2 employees also have access to these loans. Typically, this type of home loan can go up to $1.125 Million.
97% 3% Silent Second - For those of you that are buying under $322,700, please call for geographic limitations. This home loan is a little stricter than the above loans.
Under $281,749 - FHA is a government program. You can finance up to 102% of the sales price or you can sign up with one of the gift programs that will pay your down payment for you. The 102% program is stricter than most of the above zero down programs. Loan amount reflects San Diego County maximum mortgage. It may be different for your county, please call for more information.
Where To Begin
Now that you have 6 good options for buying a home no money down, where is the best place to begin?
The first step is getting pre-approved. Since buying a home is one of the most important financial decisions you will ever make wed prefer to speak with you on the phone or in person to make sure we are addressing all of your concerns and financial goals.
Please call us in one of our offices between 9am to 5pm at 866.909.LEND(5363)
If it is after hours or you are not able to reach us during business hours you may also apply online www.zerodownhomemortgages.com and one of our loan consultants will contact you within 24 hours.
Well do more than help you get financed!
Financing is only the first step in the home-buying process. We are dedicated to helping you through the entire process, delivering world-class service all along the way.
Our Preferred Real Estate Consultants can help you find the right home, negotiate the right terms, and then make sure that you actually get to the closing table. Its all part of our Preferred Buyers Program, which you can join for FREE! Thats right, it wont cost you a dime, because the seller pays all of the fees!
If youd like to know more about your financing options and would like to be part of our Preferred Buyers Program, please call us today. 866.909.LEND(5363). www.zerodownhomemortgages.com
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