2007-10-22 02:13:41 · 8 answers · asked by Littlemiss Me 2 in Business & Finance ➔ Renting & Real Estate
There are several 100% conventional loans; Flex 100, Home Possible, My Community. There are state, county, and city assistance programs, and there is http://www.NACA.com.
With good credit you can still find 80/20 loans as well.
2007-10-22 03:18:47 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Not as easily as you used to be able to do.
From the banks perspective if you have no financial interest in the property it is much more risky. If the property value decreased by 5% you would be more likely to default than someone who put down 20%.
Just because you didn't put any money down doesn't mean you wouldn't have to pay closing costs which run 3-5% of the purchase price or several thousand dollars.
Good luck!
2007-10-22 02:55:23 · answer #2 · answered by Rush is a band 7 · 1⤊ 1⤋
yes you can I am presently financing three homes at 100% and the seller is including closing costs so the borrower is payimng nothing to buy the house. He does need to have reserves for mnthly paymnets through
2007-10-22 03:15:07 · answer #3 · answered by Fabio G 3 · 0⤊ 0⤋
All day long. On top of that you can get the seller to cover your closing costs, escrow for taxes and insurance, and prepaid interest on your new loan so that you come with $0 money out of pocket TOTAL. Have your Loan Officer and Realtor on the same page to work this out for you. http://www.montgomery-county-homes.net/
2007-10-22 03:20:13 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Not likely without an incredible credit score now but a year ago it was easy. This type of lending isusually subprime. You also usually will need closing money unless the property has room in the apprasail for closing cost.
2007-10-22 02:26:08 · answer #5 · answered by Caffeine Jesus 3 · 2⤊ 2⤋
Yes! I'm in the process right now! I hope you have great credit though because it's the only way you will get approved for it. Best of luck!
2007-10-22 18:52:23 · answer #6 · answered by hi 3 · 0⤊ 0⤋
notright now. Maybe in a year or so. Start saving and it will be easier to get a home loan with something.
2007-10-22 02:53:12 · answer #7 · answered by Bob D 6 · 0⤊ 2⤋
yes, if u can buy the house with the lower price so that bank can provide u with full loan
2007-10-22 02:28:39 · answer #8 · answered by Chandra F 1 · 0⤊ 4⤋