What are some ways that I can obtain money for a down payment on a house if I have no savings?
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$4 Answers
2. There is a soft_second program in your state. Go to the website and take a look at it.
http://www.mhp.net/homeownership/homebuyer/soft_second_works.php
3. Do you have a real estate broker? Ask them whats is available for the first time home buyer program in your state?
4. Go to the local bank mortgage division, ask around, they will give you good advice without charging you a cent. They know. Like wellsfargo, chase, citibanks.
5. I just bought a home last year, what I would do is
- Ask your parents loan you $7,500 with zero interest if the seller does not want to pay down 3% for you.
- If this doesn't work, ask a bank for a small loan, $7500 is not a big deal for a bank. Either they will ask for your car for collateral(with lower interest rate) or none collateral(with higher interest payment)
Real life experience bought a house with a first time home buyer program in Denver, CO.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$At the least, you could see if you really like the house/neighborhood/climate well enough.
Services like Craigslist and local classifieds are often better sources for this kind of deal than real estate agents, though some agents have the patience to work their way through them.
There are several web sites which sell legal forms at reasonable rates--it's always a caveat emptor proposition, but I wouldn't want to try to write up an agreement like this without some kind of (semi-)professional help.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
are you working with a mortgage broker? they know all the tricks (it's their business) and they know what their underwriters will and won't allow.
if you don't have a mortgage broker, ask your real estate agent for the names of two or three that they recommend. thenmeet with them and go with the one you like.
they're hungry for sales.
sellers are interested in selling. maybe you can make a 200k offer on that 250k property. no, that's not a 20% "down payment" but it's going to make your downpayment a lot less.
good luck.
working next to a mortgage broker for 3 years and eating lunch with them 2-4 times a month.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$www.fha.gov
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
