- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Replies (8)
- wetdawgs
- Contributions:26804
There are three options without down payments:
1. Some local grants may be available.
2. USDA loans (for rural areas)
3. VA loans if qualified.
Is there reason you don't want to put your own money into the deal? 3.5% for an FHA loan is not bad.
1. Some local grants may be available.
2. USDA loans (for rural areas)
3. VA loans if qualified.
Is there reason you don't want to put your own money into the deal? 3.5% for an FHA loan is not bad.
- Bob Brandt, "BobBrandtRealtor"
- Contributions:1019
You may also be able to find owner financing on homes that are fully paid off.
- Matt Hiatt, "Matt Hiatt"
- Contributions:111
Here in the Phoenix area, if you go to some of the out lying areas such as Buckeye or Maricopa, you can get a zero down USDA loan, or if you are in the military, you may qualify for a VA zero down loan. There may be other programs in your area
- Derek Zasaretti, "Derek_Zasaretti"
- Contributions:343
The Missouri Housing Development Commission gives buyers a $3000 grant and Saint Louis county does the same. Combine that with an FHA
%3.5 down loan and a Fannie Mae Homepath eligible financing property , they give you %3.5 towards closing costs.
You could possibly be zero out of pocket.
Look into these type of grants for your area. There are a lot of programs available. Google 1st time buyer grants and your area. HUD has a lot of resources also.
%3.5 down loan and a Fannie Mae Homepath eligible financing property , they give you %3.5 towards closing costs.
You could possibly be zero out of pocket.
Look into these type of grants for your area. There are a lot of programs available. Google 1st time buyer grants and your area. HUD has a lot of resources also.
- Jessica Christopher, "JessicaZC"
- Contributions:178
I my area we have first time home buyer programs through the county.
- S. Chris Webb, "PHX AZ RE BROKER"
- Contributions:411
I'm going to be frank. If you cannot afford a down payment, you probably cannot afford to own a home. I for one wouldn't mind if everyone had to put down at least 10%, regardless of loan program. That way everyone at least starts with some equity, and will be less likely to be yet another foreclosure statistic. Home ownership is a great privilege, but it also carries great responsibility. If you can't afford $3K for a down payment, how are you going to afford paying for a new air conditioner or hot water tank when they break? I may sound harsh, but I've seen far too many people lose their homes because they could no longer afford them, and it is a very sad circumstance.
Putting all that aside, I do have sympathy towards those who are truly in need. If this is your case, perhaps Habitat for Humanity has a program that suits your needs. Like another poster said, you may also check with HUD to see if you qualify for any of their programs. I sincerely wish you the best of luck.
Putting all that aside, I do have sympathy towards those who are truly in need. If this is your case, perhaps Habitat for Humanity has a program that suits your needs. Like another poster said, you may also check with HUD to see if you qualify for any of their programs. I sincerely wish you the best of luck.
- Teresa Tedder, "realtortto"
- Contributions:18
Yes, there are 100% first time homebuyer programs available. USDA, CHIPS, or VA can probably help you. Call a reputable mortgage broker today and ask them to help you! They will lead you through the lending process and help you evaluate your lending needs and qualifications.
- Bart Medlock, "BartMedlock"
- Contributions:247
In Kentucky there's KHC - Kentucky Housing Corporation - which has down payment assistance for those who qualify. That program allows borrowers to mortgage 100% of the sale price.
I think these other options have already been mentioned but here they are again: VA, BBT Bank CHP program available only through BBT and USDA Rural Housing.
Look for a full time, experienced REALTOR in the Lexington area to help you. Good luck!
Do you HAVE to have a down payment?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.