Zero Down Mortgages
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Buy your Home with NO Money Down?
Can you really buy a home with no money down? Sure. However, it does take a bit more work to pull off, and it is not possible to do so with EVERY property you find desirable.
OK, you’ll need to put up a token amount of money to lock in a deal. I am defining this as an amount no larger than a renters’ first month rent and security deposit. But if you are really short of cash and what a deal to be literally NO money down, you may be in a position to do what many of us have done, including myself. Swallow your pride and ask a friend or family member for a short term loan to cover the amount needed to lock in a deal.
You have to find a motivated AND flexible seller, and have ready access to credit, to work this kind of deal. In today’s market you would think that there are LOTS of motivated sellers. There are, but this is, as the philosophers say, necessary, but not sufficient. In a dealmaking sense, the seller must also be flexible. It is not all about price, it is also about the terms of the deal.
You can find and pay someone to structure a deal like this for you, or you can find a Loan Officer like myself to work with who can help you work a deal. I get paid by the lenders when the deal is funded, so I don’t have to charge a consulting services fee.
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