How do you BUY A HOME WITH NO MONEY DOWN?
How do you buy a home with no money down? Is this even possible with the new regulations that came into effect after the housing bubble burst? Believe it or not, the answer is yes--to a degree. VA, USDA, and FHA loans all allow you to put no money or a small amount of money down upfront. This following blog explains these loans in detail.
Every few days in the Manchester NH area I seem to get an inquiry from a Buyer looking to PURCHASE A HOME WITH NO MONEY DOWN. The key question is: Are there any loans that still offer no money down? The first thing for buyers to note is the loans era 2005 with no money down known as 8020 loans with variations known as 90/10 or 70/30 are what got most people into the financial trouble they are in. With those loans you received a first mortgage and then a second mortgage at a higher rate to use as your down payment. It was an ultra failure.
Today there are loans that offer no money down. There are loans such as VA or USDA which are no money down and FHA which is 3.5% down.
The best place to start for anyone looking to buy a home is with a local and trusted loan officer who can prequailify you at no cost and let you know if there are any mortgages you quailify for and what their costs are.
There are no short cuts to buying a home these days. It takes good credit and a financial pictures that shows you can afford to buy and pay for the new home.
Despite what the mainstream media states, the Banks are loaning money these days. buyers are getting approved for mortgages.
Home prices are still low and interest rates are still near record lows. Both will start to increase as homes on the market have decreased near 30% in NH while sales have increased near 18%. in NH we have special programs such as NH Housing that offers low to no money down programs. They also combine NH Housing with FHA and USDA for grants so the loan is no money down for those who quailify,
The time to buy is now. Start your Home buying process correctly by meeting with a local and trusted loan officer and hiring a Full Time, Local and experienced Buyer Broker who can assist you through each step of the buying process.
In New Hampshire, that person can be me... let me show you how we offer FREE BUYER REPRESNTATION.
If you need to sell your home and you owe more than your house is worth, i may be able to help. I specialize in working with home owners to get your home sold. There are many options such as a short sale which may be able to help you.
We are local agents with experience who never charge any up front fees.
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We stand by you through every step in selling your home.
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ONE OF NEW HAMPSHIRE'S LEADING AGENTS FOR SHORT SALES AND BANK OWNED HOMES...If you are Looking for a Real Estate Agent you have come to the right place. Scott Godzyk is a Full Time and Local agent ready to serve all of your Real Estate needs through each step of the buying or selling process. We are proud to be locally owned and operated.
If you owe more than your house is worth, If you are behind in your payments, I may be able to help. Call me to find out how you may be able to sell your home at no additional cost to you.
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