How To Get An FHA Loan With No Out of Pocket Funds

Services for Real Estate Pros with Eric J - Dream Home Financing

There absolutely are costs associated with an FHA loan. There is the minimum down payment of 3.5% and closing costs as well. However, there are multiple ways to reduce this cost down to zero if you follow the various options and steps.

The Federal Housing Administration has provided multiple avenues for borrowers to get help from others to finance their homes. The trick is to know what these avenues are and to take advantage of them.

There are three basic tools to accomplish this:

  1. Gift Funds
  2. Seller Contributions
  3. Lender Credit

There are many FHA Lenders in your area who can help you with this method of getting an FHA loan without using any of your own money.

Follow the link below to read more about how to use these three effectively to work together. How to convince sellers to help is also an art that needs to be learned.

Get An FHA Loan Without putting Money Down

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Comments (2)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

During my first decade as a Realtor, back in the 1980s, I worked in an office just down the road from an Air Force base.  I helped Airmen and veterans obtain a lot of VA loans, especially using the VA no down, no closing costs that were prevalent in this area during that time.  VA loans are a good opportunity for many servicement and veterans.

Sep 09, 2018 05:49 PM
Eric J
Eric J - Dream Home Financing - Freehold, NJ
Dream Home Financing

Myrle, absolutely. VA loans are great. In fact, I posted this a couple of months ago. It is about how VA loans are the best loan program >>  VA LOANS 

Meanwhile, the FHA post that you responded to above is the best thing available right now for those who are not veterans.

Sep 09, 2018 06:14 PM