2007-05-01 21:49:49 · 8 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
contact a lender... depending on the loan program and you credit score you may not have to put out any money of your own... known as 100% financing.... im putting 5% donw on my home right now and my credit isnt very good
2007-05-01 22:00:04 · answer #1 · answered by brookieboo 3 · 0⤊ 0⤋
First of all, even if your credit is on the 800's or high 600's I would first tell you BE CAREFUL
Just stop and think, what would happen if after 8 months of owning a home, you loose your job and you need to sell your home. What then if you bought it with 100% financing. ALL the selling costs will have to come from your pocket.
With that said I suggest you save up some money and put at least 5% down so you can have some equity cushion for any emergency.
But if you feel confident in buying with 100% financing go for it but you will end up paying a higher interest on the second loan compared to when you put 5% down or more.
I hope that information helps. Good luck
2007-05-02 07:02:33 · answer #2 · answered by SCCRealEstateUNCENSORED.com 3 · 0⤊ 0⤋
If you have worked with your lender and the numbers still don't come up, then you'll have to look at homes you can afford without going into serious debt. Homes take an incredible amount of money for upkeep...there is always something. The last thing you want to do is over-extend. My husband always tells me I can fall in love with at least three houses so I go with that when we are looking.
2007-05-01 23:34:33 · answer #3 · answered by dawnb 7 · 0⤊ 0⤋
Be practical ! everybody has a dream and your dream is to have a nice house but before you
take any series steps you should put your cards
(assets)on the table to see if you find a way to
get the house....!!!!
Are you'll be able to keep it ?
paying less up front ,will lead to a higher monthly
payment and long term high interest rate.
DON'T GET YOURSELF IN DEBT FOR A DREAM OUT OF YOUR LEAGUE>
Good luck
2007-05-01 23:01:19 · answer #4 · answered by massimo 6 · 0⤊ 0⤋
These days credit cards are there. They give u cash limit which u can withdraw and pay interest thereon . U can repay in instalments also. In March every year credit card issuing banks normally contact u for easy loan also. U can contact ur credit card issuing bank also for temporary loan. Once house is allotted in ur name then according to ur monthly income Banks give housing loan also. If it is simply on rent the credit card cash limit is handy.
2007-05-01 22:32:53 · answer #5 · answered by sudershan Guddy 4 · 0⤊ 2⤋
Go for housing finance
Search for Home finance information...
http://www.99acres.com/property/home_finance.php?link=HF_tab&city=
2007-05-02 01:23:53 · answer #6 · answered by Anonymous · 0⤊ 0⤋
gold!!!!
if u have gold sell it/pawn it do something so that u will not forego this dream house.u can earn gold later!!
2007-05-01 22:03:52 · answer #7 · answered by Anonymous · 0⤊ 1⤋
loan or joint partener
2007-05-03 05:23:21 · answer #8 · answered by Anonymous · 0⤊ 1⤋