Tools

Ask a Question
Start a Discussion
Close
Create an Email Alert

Alerts are a great way for you to stay up-to-date on things you care about. We will email you a list of the new items that match your criteria at a time of your choosing.

This alert is for the following:

Topic:
Hi. I am a first time home buyer.. with no down payment, ...

How often would you like the alert emailed?

Frequency:

Immediately Daily Weekly
Maximum 20 emails/day

Save

Cancel E-mail alerts
RSS
Send to del.icio.us
Send to StumbleUpon
Print page

Partner Tools

Views: 490
US
California
Nearby States
- Alabama
- Alaska
- American Samoa
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Guam
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Northern Mariana Islands
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Puerto Rico
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virgin Islands
- Virginia
- Washington
- Washington D.C.
- West Virginia
- Wisconsin
- Wyoming
Don't see it?

Find:
Concord
Nearby Cities
- Alamo
- Antioch
- Bay Point
- Bayview-Montalvin
- Bethel Island
- Blackhawk-Camino Tassajara
- Brentwood
- Briones
- Byron
- Clayton
- Clyde
- Crockett
- Danville
- Diablo
- Discovery Bay
- East Richmond Heights
- Eastport
- El Cerrito
- El Sobrante
- Hercules
- Kensington
- Knightsen
- Lafayette
- Marsh Creek Springs
- Martinez
- Monsanto
- Montalvin Manor
- Moraga
- Mountain View
- North Richmond
- Nortonville
- Oakley
- Orinda
- Orwood
- Ozol
- Pacheco
- Pinole
- Pittsburg
- Pleasant Hill
- Port Costa
- Richmond
- Rodeo
- Rollingwood
- San Pablo
- San Ramon
- Tara Hills
- Vine Hill
- Waldon
- Walnut Creek
Don't see it?

Find:
ZIP Code
Nearby ZIP Codes
- 94518
- 94519
- 94520
- 94521
- 94522
- 94524
- 94527
- 94529
Don't see it?

Find:

Hi. I am a first time home buyer.. with no down payment, is a down payment a must?

Contributions: 1

Q&A

:1

View full profile

Flag content

March 02 - Concord

RSS

Answers (4)

Deby Ross, "Deby Ross"
Contributions: 53

Deby Ross, "Deby Ross"

Devon, PA

Real Estate Agent

Contributions: 53

Q&A

:24
Disc

:3
Photos

:26

View full profile

Thanks David, you clarified what I was trying to say.

Flag content

March 05

David Nezri, "Direct Lender"
Contributions: 168

David Nezri, "Direct Lender"

Mortgage Lender

Lender rating

5.0/5.0

View ratings and reviews

Contributions: 168

Q&A

:118
Disc

:50

View full profile

For FHA you will need at least 3.5%. It can be gifted.

Flag content

March 03

mds5x8
Contributions: 2

mds5x8

Contributions: 2

Q&A

:2

View full profile

You will need at least 3.5% for FHA. In this credit environment it is next to impossible to get anything for less than that. Also keep in mind, closing costs (some sellers pay them but many of the costs you have to pay). On average its going to run about 3 or 4 grand just for your portion of closing costs (depending on the price of the house) on top of your 3.5%.

Flag content

March 03

Deby Ross, "Deby Ross"
Contributions: 53

Deby Ross, "Deby Ross"

Devon, PA

Real Estate Agent

Contributions: 53

Q&A

:24
Disc

:3
Photos

:26

View full profile

There are some FHA and VA programs that allow buyers to buy with little or no money down, but it is best to have cash in some form. There are always hidden cost in moving that first time buyers need to understand, so make sure you are working with an experienced agent that can explain the process in a clear, concise manner. Understanding the tax credit for first time homebuyers is essential as well. I would start by talking to a a loan officer or mortgage rep. to find out what programs you qualify for and what you can afford in terms of price for a house.

Flag content

March 02

Have a question? Ask it here.

Most Active Concord Real Estate Agents

Lynne French

39 listings

Local Expert
Kandie Lambert

52 listings

Local Expert
Randy Thomas

15 listings

180 contributions
Maureen Dunbar & Steve Monasch

7 listings

53 contributions
Greg McPherson

3 listings

795 contributions

See more Concord real estate agents

Question Hi. I am a first time home buyer.. with no down payment, is a down payment a must?

Latest answer by Deby Ross
March 05

In Buying Process
4 Answers - 490 Views

See More

Guide Real Estate Buyer's Closing Costs

In Buying Process
Edited August 27

Guide List of Closing Costs and Fees

In Buying Process
Edited August 27

Guide You've Opened Escrow

In Buying Process
Edited July 21

Guide Home Buying One Step at a Time

In Buying Process
Edited May 04

Guide A Buyer's Guide to Making the Right Choice

In Buying Process
Edited December 05 2008

See more articles about Buying Process

Current Mortgage Rates

Current Last Week

30 Year Fixed

15 Year Fixed

5/1 ARM

Get this widget

<div style="width:298px;height:123px;border:1px solid #adcfff;overflow:hidden;text-align:center;font-family:verdana,arial,sans-serif;font-size:8pt;line-height:13x;background-color:#eff3ff;letter-spacing:0;text-transform:none;">
		<div style="margin: 0 6px;">
			<div style="margin-top:6px;">
				<a href="http://www.zillow.com/Mortgage_Rates/#{scid=mor-wid-lthd}" target="_blank" style="font-size:9pt;color:#36b;text-decoration:none;font-weight:bold;">
				   
						Current
				   
				         
				   Mortgage Rates</a>
			</div>   
			
			<div style="color:#555;margin:5px 0 1px;">
				<span style="padding-left:137px;">Current</span>
				<span style="padding-left:23px;">Last Week</span>
			</div>

<div style="background:#fff;height:60px;width:284px;border:1px solid #adcfff;text-align:left;">
				<div style="width:146px;float:left;">
					<div style="height:20px;background-color:#fff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/30_Year_Fixed_Mortgage_Rates/#{scid=mor-wid-ltt1}" target="_blank" style="text-decoration:underline;color:#36b;">30 Year Fixed</a></div>
					</div>
					<div style="height:20px;background-color:#eff7ff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/15_Year_Fixed_Mortgage_Rates/#{scid=mor-wid-ltt2}" target="_blank" style="text-decoration:underline;color:#36b;">15 Year Fixed</a></div>
					</div>
					<div style="height:20px;background-color:#fff;">
						<div style="padding:3px 0 0 4px;"><a href="http://www.zillow.com/5-1_ARM_Mortgage_Rates/#{scid=mor-wid-ltt3}" target="_blank" style="text-decoration:underline;color:#36b;">5/1 ARM</a></div>
					</div>
				</div>
					
				<iframe title="Current Mortgage Rates" frameborder="0" height="60" scrolling="no" width="138" src="/mortgage/MortgageRateTableWidget.htm?wide=1&region=102001">
						Your browser doesn't support frames.  Visit 
					<a href="http://www.zillow.com/mortgage/" target="_blank" style="text-decoration:none; font-size:9pt; font-weight:bold;">Zillow Mortgage Marketplace</a> 
					to see this content.
				</iframe>
				<div style="clear:both;"></div>
			</div>
			
			<div style="margin:4px 6px 0;height:15px;width:276px;">
				<a href="http://www.zillow.com/mortgage/#{scid=mor-wid-ltgr}" target="_blank" title="Zillow Mortgage Marketplace" style="display:block;margin-left:4px;height:15px;width:145px;float:left;"><img src="/static/images/zillow-mortgage-logo-small.gif" alt="Mortgages, Home Loans, and Mortgage Quotes at Zillow Mortgage Marketplace" style="border:none;"/></a>
				   
				<a href="http://www.zillow.com/webtools/widgets/MortgageRateWidget.htm#{scid=mor-wid-ltget}" target="_blank" style="font-size:7pt;color:gray;text-decoration:none;float:right;margin:1px 5px 0 0;width:80px;">Get this widget</a>
			</div>
		</div>
	</div>

Need a Mortgage?

Zillow Mortgage Marketplace

Competitive rates
Accurate, custom quotes
Thousands of lenders

... and, it's free and anonymous

Learn about Zillow Mortgage Marketplace

Zillow Poll:

Suggested by PrjMgr

As a buyer, and you see a FSBO home, do you..

Incude in the houses you look at

Ignore the FSBO home

Depends on circumstances

Never engage with FSBO

Next poll
Suggest a poll

Be A Good Neighbor

Zillow® Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy

All Results (59)

Zillow FAQs (0)

Home Buying (3)

Home Selling (3)

Mortgage (1)

Housing Market (0)

Local Topics (0)

Home Ownership (2)

Home Improvement (0)

Home Q&A (47)

Pro-to-Pro (0)

Other (3)

Tools

Create an Email Alert

This alert is for the following:

How often would you like the alert emailed?

Partner Tools

Hi. I am a first time home buyer.. with no down payment, is a down payment a must?

Contributions: 1

Real Estate Agent

Contributions: 53

Mortgage Lender

Contributions: 168

Contributions: 2

Real Estate Agent

Contributions: 53

Have a question? Ask it here.

Most Active Concord Real Estate Agents

Related Questions

Question Hi. I am a first time home buyer.. with no down payment, is a down payment a must?

Related Articles about Buying Process

Guide Real Estate Buyer's Closing Costs

Guide List of Closing Costs and Fees

Guide You've Opened Escrow

Guide Home Buying One Step at a Time

Guide A Buyer's Guide to Making the Right Choice

Need a Mortgage?

Get instant mortgage quotes

Be A Good Neighbor

Tools

Create an Email Alert

This alert is for the following:

How often would you like the alert emailed?

Partner Tools

Nearby States

Nearby Cities

Nearby ZIP Codes

Hi. I am a first time home buyer.. with no down payment, is a down payment a must?

Contributions: 1

Main Image

Answers (4)

Real Estate Agent

Contributions: 53

Mortgage Lender

Contributions: 168

Contributions: 2

Real Estate Agent

Contributions: 53

Have a question? Ask it here.

Most Active Concord Real Estate Agents

Related Questions

Question Hi. I am a first time home buyer.. with no down payment, is a down payment a must?

Related Articles about Buying Process

Guide Real Estate Buyer's Closing Costs

Guide List of Closing Costs and Fees

Guide You've Opened Escrow

Guide Home Buying One Step at a Time

Guide A Buyer's Guide to Making the Right Choice

Need a Mortgage?

Get instant mortgage quotes

Be A Good Neighbor