A down payment is typically essential when buying a home. But not always. In fact if you only have a few bucks to your name, you might still be able to finance a house. Find out what options you have when you have little or no down payment. From USDA rural development to FHA mortgage loans, you may be surprised to learn you have quite a few low-to-no down payment options. Watch the short video below explaining it all.
See the embedded video here - No Down Payment to Buy a House? 60 Second Mortgage Tip
How to buy a house with no down payment…it’s a tough situation. But it’s not impossible. Hi I’m Dan Moyle with AmeriFirst Home Mortgage and THIS… is your “60 Second Mortgage Tip.”
“No down payment” isn’t always accurate. You may need less of a down payment than you think.
With as little as 3-percent down you could buy a Fannie Mae-owned home with HomePath. Many of these properties are selling for less than market value. FHA requires 3-and-a-half percent down. Or if you’re truly looking for a loan that finances the entire house, you have the VA loan if you’re a member of the military.
OR you have U-S-D-A rural development if you’re willing to live outside of a city. Many villages, small towns and other areas qualify for rural under this mortgage. You’ll still need some cash for things like escrow at the closing table, but there’s no down payment. Learn more with the rural development fact sheet down below.
Thanks for watching. Be sure to subscribe above for more video tips and visit our blog. And if you like it, hit the thumbs up below for us! Again I’m Dan Moyle with AmeriFirst Home Mortgage. This has been your “60 Second Mortgage Tip.”
Now that you know that you have options, download that rural development fact sheet at the button below. Good luck in your home-buying adventure!