Woodbridge VA Homes For Sale With Zero Down
You Can Buy With Zero Down With Your Veterans Home Loan Benefits
No Money Down Works On Any House Up To $625,000
You want to buy a home, and you want to buy with as little cash down as possible.
If you are new to home buying, you may be surprised to find out that you will get ahead financially if you put down as little cash as possible, and put your cash down payment into a growth mutual fund that earns an average of 10% over 20 years. Warren Buffett is one of the richest men on the planet. He has lived in the same house since the 1950's. Warren carries a mortgage on his house, and invests the money in Berkshire Hathaway stock. His reason? "Where can I get money so cheap and invest it at a premium?"
The most common zero down payment home mortgage is the VA home loan. Do you know that some banks are offering zero down conventional home loans to folks with credit scores over 700, and assets in the bank?
I am not a financial planner, so if you want to know more about investing your savings instead of putting your savings into your house, I urge you to see the licensed financial planner of your choice.
You are entitled to a Veterans Administration backed, zero down home loan if you have at least six months active duty, are currently on active duty, or you're retired or you have an honorable discharge.
All you have to do is contact your VA District Office (VADO) to get your VA Loan Certificate. Or you can call me at 703-677-1120 for a referral to a reliable mortgage banker who will file the request for you. You can also click here now to contact me by email.
My Dad was the first person who shared this money making secret with me. Dad practiced this method as he purchased four investment properties, and built a fortune in mutual funds, even though he was a military officer who later went into government service as a civilian. Folks who work for Uncle Sam, in and out of uniform, don't make fat incomes, but little contributions to money making assets can grow into a fortune.
I had often heard folks say, "Put down a large down payment, and add extra money to your monthly payment to pay off your mortgage as fast as possible".
Where did the fear of mortgage come from? It came from the depression, when banks offered mortgages for five years, then you paid off your mortgage with money you saved over the five preceeding years. The fear was spawned when banks called their mortgages due and folks had not yet saved enough money to pay-off the bank, so the banks foreclosed.
Today's mortgages cannot be called due and fully payable unless you are in default because you are not making your house payments as agreed in your Note.
You would be better off financially if you put the extra cash into your mutual fund, instead of into your house. If you are heck-bent on paying-off your mortgage as soon as possible, invest 25% of your monthly house payment into your 8% mutual fund, and in eleven years, you'll have enough money to pay off your mortgage. Interest rates on home loans are less than 4%, and you can find a middle of the road mutual fund that returns 8% on your money. Put the money you saved for your down payment in the mutual fund, and if you feel the urge to make extra payments toward your loan, pay the funds into your mutual fund for a greater return on your money.
If you want to pay off your mortgage really fast, make your monthly house payments to the bank. Next, make extra monthly payments in the amount of the principal and interest on your loan. So pretend for a moment that you buy a $300,000 house with no money down at 4% interest rate. Your estimated payment with principal, interest, plus escrows for taxes and insurance would be roughly $1,892 per month. The portion of the $1,892 house payment that goes to the bank to pay your principal and interest on the loan would be $1,432. If you pay your house payment, plus $1,432 extra per month to the bank, you will pay off your mortgage in 6.5 years.
Now hang with me. Without a mortgage, you won't have a tax shelter, so be prepared to pay your house payments to the IRS. But you're in the habit of paying the extra $1,432 payment on your loan. Instead, you will pay that money into a respected long term growth mutual fund earning 8% per year average over 20 years.
In 10 years you will have $266,903 saved.
In 20 years you will have $856,155 in your account.
In 30 years you will have $2,164,081 in your account.
In 35 years you will have $3,330,067 in your account.
In 40 years you will have $5,067,205 saved in your account.
I am not a financial planner. For competent financial advice I urge you to seek out the licensed financial advisor of your choice. I'm Erick Blackwelder of Exit Choice Realty in Northern Virginia. I help folks buy homes with strong wealth building plans. I also help folks sell homes fast, for top dollar, and with the fewest hassles.
If you want to see other ways to pay off your house, call me to set aside some time to look at your options: 703-677-1120.
We can take an hour to look at your home buying options, with no pressure, no obligation, ho hype, and no "sales pitch". If you like what you hear, we can talk about how we could work together as a team to help you find your next home. We'll find out together if a no money down mortgage is best for you.
Call me now at 703-677-1120.