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Answers (3)
- William Dawes, "ewpdawes"
- Contributions:24
Agree with 918HomeTeam. The USDA is your only option for a true $0.00 down loan unless you are a Veteran.
You do have the option of only putting 1% down if the home is not an eligible area going through the Ohio Housing Finance Agency or OHFA. OHFA provides 2.5% grants to eligible borrowers. Using the FHA loan this would take the 3.5% down payment down to 1%.
But, USDA is your best bet if it is in an eligible area.
See eligibiliy.sc.egov.usda.gov under the single family housing program to input the address and see if it is eligible.
You do have the option of only putting 1% down if the home is not an eligible area going through the Ohio Housing Finance Agency or OHFA. OHFA provides 2.5% grants to eligible borrowers. Using the FHA loan this would take the 3.5% down payment down to 1%.
But, USDA is your best bet if it is in an eligible area.
See eligibiliy.sc.egov.usda.gov under the single family housing program to input the address and see if it is eligible.
- 918HomeTeam
- Contributions:32
Depending on the location you may qualify for an RD loan. These loans are zero down. Here is a link to the website. Also we would suggest choosing a Realtor and lender who are farmiliar with this type of loan.
http://www.rurdev.usda.gov/RD_Loans.html
http://www.rurdev.usda.gov/RD_Loans.html
- wetdawgs
- Contributions:26854
Zero down loans are quite rare unless you are eligible for a VA loan or the property is in an area where you may be able to find a USDA rural loan.
to buy a house with acreage ,a large extra garage on it what type of loan should i get with 0 down
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