2007-02-19 13:38:27 · 5 answers · asked by nichhew 2 in Business & Finance ➔ Renting & Real Estate
You will need something like a 100% LTV loan. As for whether or not it is a fixed or an ARM, depends on what you are looking for. Most of it will depend on what you can afford, but you want to be sure that you don't get into something that is cheap now, that you will be unable to pay for in the future when it adjusts.
2007-02-19 13:44:09 · answer #1 · answered by moonman 6 · 0⤊ 0⤋
There are many mortgage products out there that require zero money down....However, keep in mind that the less you put down the more you will pay in PMI (Private Mortgage Insurance). There are several banks (53 and Third Federal) that offer a 3% - 5% loan with no PMI. BankRate.com is a great site to research rates.
2007-02-19 13:44:14 · answer #2 · answered by Dean T 1 · 0⤊ 0⤋
Hi I,m just like you I want get a loan for house with very down payment I wish you all the luck in the world
2007-02-19 15:16:08 · answer #3 · answered by pattibcacl 6 · 0⤊ 0⤋
There are government backed loans such as rural development loand where the gov. actually kicks in part of the downpayment and you don't have to pay it back so long as you don't sell the house within 5 years.
2007-02-19 15:53:06 · answer #4 · answered by sbj95 3 · 0⤊ 0⤋
Your going for the 100% LTV. The rates are going to be high at first but you can refinance later on.
2007-02-20 12:31:50 · answer #5 · answered by Phil H 2 · 0⤊ 0⤋