We need 15-20% down to buy a house. We have $2000.00. Where can we find the rest?
2007-04-07 10:49:20 · 6 answers · asked by shaydzofluv 2 in Business & Finance ➔ Renting & Real Estate
You should call the local housing office in the city and county in which you live, one of the two will have a program that will be able to assist you.
There are criteria to be met so make sure when you speak with someone at the housing office what this might be. You should also see if they will mail you a copy of everything you need to qualify for this type of down payment assistance.
They will also send you a list of mortgage lenders that participate in their program. You are obligated to use one of their lenders without question.
I hope this will be of some use to you, good luck.
"FIGHT ON"
2007-04-07 11:00:55 · answer #1 · answered by Skip 6 · 0⤊ 0⤋
Buying a house with $2000 down payment may not be the right approach, in my opinion. Can you afford to pay monthly mortgage payments, taxes, condo fees (if applicable) and utilities? If yes, then how come you did not save enough money for all these years. There are many buyers like you who jump at zero down payment options, only to find out later that they made wrong decision, many end up spoiling their credit score and loosing their home to the bank.
2007-04-07 11:38:59 · answer #2 · answered by Square One Realtor 1 · 0⤊ 0⤋
Work to cut your present spending habits and increase your savings. If you can't afford the down payment then you can't afford to buy the house. That's why there are so many foreclosed real estate loans today. Get your finances in shape so you don't wind up in foreclosure or bankruptcy down the road.
2007-04-07 10:55:55 · answer #3 · answered by mustanger 5 · 0⤊ 0⤋
Not sure how much your house costs. But then again, you could visit Yellow Leaf Financial at - http://tinyurl.com/ytvhmg - to see if you qualify for a home loan.
They will try to match you with a loan provider, depending on your current situation and credit status. Feel free to give them a try.
2007-04-08 04:44:36 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If you don't have enough for a down payment, don't buy. No one is going to give you the money.
Don't borrow a down payment. You will dig yourself into a financial hole, with not way out.
2007-04-07 10:58:53 · answer #5 · answered by regerugged 7 · 0⤊ 0⤋
rob a bank
2007-04-07 10:52:34 · answer #6 · answered by mafriqa 3 · 0⤊ 0⤋