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Guest

can i buy a house without down payment?

Sam · Posted: Mon Jul 04, 2005 2:25 am Post subject: Re:House with no down payment

Hi Leonardo

Welcome to

MortgageFit forum.

Guest

please let me know how to get a low down payment loan?

Jessica · Posted: Mon Jul 04, 2005 10:51 pm Post subject: RE:

Hi Guest

You may get a low down payment loan from

the Fannie Mae which offers 3% down payment on 25 or 30 year mortgages.

The Federal Housing Administration of the

Department of Housing and Urban Development also offers loans with down payments of 3% to 5% of FHA appraised value or the

sale price whichever is lower. The FHA often allows 100% gift funds to help borrowers in making the down payments. These

loans are serviced by private lenders.

If you are a qualifying veteran, you can avail the VA loan with no down

payment. For more information on this, you may visit the Home Loan Guaranty Services page on the website of the U.S

Department of Veterans Affairs.

There are also several state or local housing agencies that sponsor loan programs

with low down payments. Some of these agencies often assist in making down payments.

Hope this information will

fulfill your requirement.

Regards,
Jessica.

Guest

i don't have a large down payment. other than low down

payment loans, is there any other way to get into a home?

Sam · Posted: Fri Jul 08, 2005 1:47 am Post subject: Re:Other mode of loan payment

Hi Simon

Welcome to

MortgageFit forum.

Let me assure that you can easily buy a home even without a large down payment. Even if you don't

intend to go for low down payment loans, you may still consider any of the options suggested

below:

Equity sharing: This is a kind of joint ownership between the occupant and the

investor. The resident partner gets the loan, makes the monthly payments and also maintains the property. The down payment is

provided by the non-resident partner. After a certain period, say 5 to 7 years, when the property is sold, the mortgage loan

balance is paid off, and the profit is shared by the two parties.

The Employer-Assisted Housing Program

: This program is designed to assist employees with home ownership by providing the closing costs and/or down

payment. Several down payment assistance options are available to an employee. In this program an employee receives payments

from the employer so that they can hold a mortgage or rent.

Lease option: You may opt

for a lease option which allows you to make an agreement with the seller such that you can lock in the future purchase price,

put aside money for the down payment and buy the property in future. A lease-option is an agreement between a buyer and a

seller that allows the buyer to lock in the future purchase price, save money for a down payment and buy the property in the

future at current prices.

Seller financing: This can be good option in case you don't go

for a low down payment loan. In this case, a seller finances a part or whole of the property when a buyer fails to qualify

for a conventional loan. Seller financing allows you to acquire the loan without lender fees, loan points and other

fees.

We hope that you will be benefited from this information.

Please let us know about your

feedback.

Regards,
Sam

dilipgagare · Joined: 26 Mar 2009 Posts: 58 0.01 Dollars($)

Hi,
yes, you can buy home without down payment.Like FHA Loan, VA Loan, etc.

1) If you are first time home buyer then FHA Loan isbetter for you.
2)Neighborhood Advantage no down payment loans : this another option to give 100% finance but it has some condition apply but its flexible.
3)VA : this another option to provide you less or zero down payment .

Dear frnd lot loan paln to solve your problem
Pls go through http://www.nva-mortgage.com/no_down_payment_loans.htm

Regards
Dilip

gmakerley · Posted: Tue May 05, 2009 10:04 am Post subject:

low down payment loans exist across the country. most are targeted at first time homebuyers. you can check with your state government to find out if your state has such a program.

as for what's available otherwise; yes, va loans go to 100% of purchase price. fha loans require 3.5 per cent down payment. usda loans will allow you to receive 100% of the price. conventional products offering zero down have disappeared.

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