I get this question a lot from realtors and new clients. The answer is absolutely yes there are a couple of programs still available.
Why is this important to me if I am a realtor? It is very important for all realtors to know what programs are available because it can help you sell a property you have listed, buy a home for a buyer, and be able to sound intelligent when speaking to all your clients. The mortgage industry is changing almost daily and being informed on what the latest changes are is very important for you as a realtor to keep up with. If you don't have a mortgage "go to" person who sends you updates and works closely with you and helps your clients, you are missing the boat.
It is essential for you to have atleast one lender you work closely with to provide you information, changes, and support so you can win and close more business. It is a good idea to have a back up lender who can get some tough deals done and if you have a very large business three lenders may be a good option. I will discuss this in more detail in a future blog. Use 0 down programs to attract, and win more business for your clients and yourself.
The 0 down programs still available are:
1. VA program- It is great to provide our wonderful veterans a help by offering 0 down programs to purchase a home. The VA program is great, more paperwork, but great for all sides. There are factors for qualifying for this type of loan.
2. Rural Development - This program allows borrowers to purchase real estate for 0 down in the outer areas of metropolitan communities. It is a wonderful program and as helped a lot of lower to middle income borrowers get into their dream house. There are factors for qualifying for this type of loan.
My most successful agent partners come to me to look up if their listings are rural development eligible so they can put up a 0 down sign in the yard. This has created calls to them and allowed them to turn them into clients and helps them sell that listing quickly because it can be bought with 0 down if the borrower qualifies.
Use a good lender, have them keep you informed, and use this information to win and close more business. Work together with your lender and let them help you promote yourself and your properties and you will reap the rewards.
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