Andrew And Associates

How To Purchase a Home with Zero Money Down

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Do you want to purchase a new home, but you don’t think you have enough money for a down payment? Many people buy homes without paying money down. Let’s examine how they do this.

Simply put, rent is paying for somebody else’s home. If you’re tired of paying someone else’s mortgage, why not take some time to figure out what you need to do to buy your own home and begin building your own equity. Most people think that they must have a large down payment in order to purchase a new home. This is simply not true.

There are several government agencies and grants designed to help first time home buyers with little of now down payment. Every year thousands of homebuyers are realizing their dream. They are purchasing their own home. You can too!

Ask a good real estate agent about mortgage lenders and government programs that can help you purchase a home with no money down. You can quickly move into a new home and build your own equity. It is not as hard as you thing to qualify for these zero down payment programs. The quicker you learn about them, the quicker you can realize your dream.

First, you need to make sure your credit is in order. The better your credit, the quicker you can get a loan. You should have no recent history of bad debts. You should be able to demonstrate that you are making consistent, on-time payments on your current loans. You will have to discuss your current debts with your mortgage lender. These will include such items as car payments, credit card bills, medical bills, etc. The fewer debts you have, the better loan you can get. However, you do not have to be debt free to get a loan.

Second, the lender will then check your credit scores. Always be up-front and truthful with your lender and real estate agent. If you do have some debt problems, they can help you outline a plan to clear them up.

Third, you must have at least three years of stable employment.  This is either proof of employment for the past three years or financial statements for the same time if you are self-employed.

You must also show that you can afford the taxes, insurance and utility costs associated with owning a home. These costs are usually paid up front when you purchase a home. However, they will vary depending upon the cost of your home.

Most zero down payment programs allow you to purchase various types of homes. These will include single family homes, condos and townhouses. Keep in mind that all homes do not qualify for the zero down payment programs. A qualified Realtor can help you select the area and homes that qualify under these programs.

Buying a home with no money down doesn’t have to be difficult. When you begin making monthly payments on your own home, you are building your own equity every month. But that’s not all. The interest you pay on your home loan is tax deductible. As your home appreciates in value, you will join thousands that are building their wealth by home ownership. For example, if you own a home that is worth $250,000 and it appreciates 10%, you’ll have an additional $25,000 in equity.

Be sure to choose a real estate agent wisely. Always work with a full-time professional real estate agent. They will save you a lot of time and money. Ask them questions to determine how knowledgeable they are about zero down payment programs. Do they know a good lender that provides excellent customer service and rates? Does your agent ask questions of you to gain a full understanding of what you are looking for? You want to get the most home for the money, even if you pay nothing down.

Do you have questions or need advice you can count on or just want to discuss this further?

Don’t waste any more time; pick up the phone and call me now!  I’m here to help!

I offer a five star guarantee. I appreciate your business, loyalty, trust and referrals. My goal is to provide the very best counsel and advice to meet your real estate needs. If I can assist you, a relative, friend or co-worker, please give me a call. I look forward to the opportunity to serve you.

For prompt, courteous, professional service, call Larry Andrew: