Can i buy a house without paying any down payment?

Can't pay down payment.
(1) | asked by: sunny | share | 8 months ago | Report
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answer by Mike McCatty    |   Visit My Website   |   Contact Me
There are a lot of variables to consider to correctly answer that. I would advise you speak with a loan officer. This will not only answer that question but will put you in a better negotiating position when you are ready to make an offer on a property.
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7 hours ago  |   Report   |   share
answer by Jerry Pascale    |   Contact Me
As others before me have stated the Department of Agriculture's USDA program is 100% financed, closing costs are certainly high and not only does the house have to qualify by location, the buyer has restrictions on income, so I would check with a good Mortgage Broker in your area to get pre-qualified before I venture out and look at homes. Only other 100% financing program I am aware of is VA and of course you would have to be a Vet to qualify for that program.
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1 week ago  |   Report   |   share
answer by Jessica Gratzl    |   Visit My Website   |   Contact Me
There are many great programs available for first time home buyers. Also, if the area you are looking in is considered rural it may qualify for a USDA loan. USDA is 100% financing.
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answer by Harjeet Bhatti    |   Visit My Website   |   Contact Me
The other option would be USDA loan with area restrictions. Mostly DPA program has 1% down payment requirement. IHDA also a good option. You can reach me through my profile if you want list of program.
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8 months ago  |   Report   |   share
answer by Brian Pruden    |   Visit My Website   |   Contact Me
Marie, Good evening! Yes there are several programs available, depending on your area of interest, and income guidelines. Feel free to give me a call or an email. Thanks!
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8 months ago  |   Report   |   share
answer by Marie Puskar    |   Visit My Website   |   Contact Me
You should contact some local lenders but there are programs out there that can help limit amount down. If you are a first time homeowner there are some 0 down loans out there! Good Luck!
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8 months ago  |   Report   |   share
Mario Woods
answer by Mario Woods   
If you are a Veteran (or the spouse of a Vet) you can get a home with no money down, especially when the seller pays your closing costs. If you are not a Veteran, once in a while, you can get credits to offset or negate your down payment from - tax credits, lender credits, down payment assistant programs - like IHDA (for Illinois Housing Development Authority), city credits, etc. However the lender may still want some down payment from the buyer - which would be credited back at closing, depending on the amount and combination of credits given. Mike Woods, Century21 Affiliated, Homewood, IL.
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8 months ago  |   Report   |   share
answer by Melinda Svastisalee    |   Visit My Website   |   Contact Me
I would advise you to talk to a loan officer as each lender has their guidelines to follow regarding down payment. You might be approved for 1-3% down depending upon the loan eg. FHA ,conventional ,VA ( $1) . Contact a loan officer and good luck.
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8 months ago  |   Report   |   share
answer by Paula Calzolari    |   Contact Me
You usually have to put at least 1% of your own funds to purchase a home. It usually isn't too bad. Like putting a security deposit for an apartment but it is for you to purchase your home.
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8 months ago  |   Report   |   share
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