a couple with little/no money to put down want to buy a 142,000 dollars condo and don't want their mortgage payment to be much over 800 dollars/month. is that doable?
2007-01-09 17:45:45 · 6 answers · asked by outtahere 3 in Business & Finance ➔ Renting & Real Estate
I don't know what the payments would be but I know it is possible to buy a house/condo with zero down. It does vary from the lender and it may make your interest rate higher.
2007-01-09 17:54:13 · answer #1 · answered by bandit 3 · 0⤊ 1⤋
As long as you have decent credit and stabole income this should be doable. There are lots of programs that allow borrowers more than 100% with closing costs. Your payments would be Around 900 on a standard mortgage, but using interest only or a neg am you could get as low as 350 per month. I can find out for you if your interested, just reply to this answer.
2007-01-10 02:21:06 · answer #2 · answered by Ron B 3 · 0⤊ 0⤋
You'll come close if you take out an interest only option loan. You can get a 30 year fixed rate with this option.
2007-01-10 07:33:33 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Talk to a mortgage councilor at a bank.
2007-01-10 01:56:13 · answer #4 · answered by hapynys 2 · 1⤊ 0⤋
There are programs to help first time homebuyers and veterans.
2007-01-15 01:56:51 · answer #5 · answered by Anonymous · 0⤊ 0⤋
yes, its called a promissory note if someone is willing to make a deal with you.
2007-01-10 01:50:52 · answer #6 · answered by rashbash22 2 · 0⤊ 1⤋