Financing in Raleigh>Question Details

Madcas, Home Buyer in Raleigh, NC

Can you provide any details on why this home qualifies for $100 downpayment?

Asked by Madcas, Raleigh, NC Fri Apr 27, 2012

Help the community by answering this question:

Answers

5
BEST ANSWER
All of Knightdale is considered a rural zone and qualifies for a USDA no money down loan. For more info, go here: eligibility.sc.egov.usda.gov/

I purchased 3 years ago in Knightdale under a usda loan & kept my downpayment funds. Call my realtor if you're interested - Adam Grossman 919-451-5717 He also negotiated with the owner for closing costs that were covered in full. So basically, I purchased a great, completely renovated home on an acre of land without putting a downpayment or paying for closing costs!

Millie
0 votes Thank Flag Link Sat Apr 28, 2012
I don't know which property you are talking about but you may want to check NACA for no money down loans. I have a short sale listing that might interest you in Durham. It is listed at 115,000, bank pre approved short sale price with current appraisal. Only three years old.
0 votes Thank Flag Link Fri Apr 27, 2012
If it is owned by HUD then you can get an FHA loan utilizing their $100 down payment program. However, be sure you have an experienced loan officer and Realtor working with you to guide you through the process.

If you are not careful and don't leave room in the "as is" to purchase price, and if you don't have the seller paying enough of your closing costs; you could get stuck not being able to finance the UFMIP or 1.75% as is required on all FHA loans.
0 votes Thank Flag Link Fri Apr 27, 2012
There appears to be programs in Raleigh that provide for a $100 down payment,
This would include HUD homes and possibly Homepath.
I suggest you GOOGLE
"raleigh, $100 down payment"
for more information
or contact a local Realtor.
0 votes Thank Flag Link Fri Apr 27, 2012
your post does not show the house.......if you let me know the address i might be able to shed some light on the subject.

Sincerely,

John T. Little
CRS,ABR,CRFS,CLHMS,E-Pro
Broker Owner
Triangle Realty Solutions
4620 Watkins Rd.
Raleigh, NC 27616
Ph#(919) 798-6285
Fax (877) 447-4333
http://Www.TriangleRealtySolutions.com
http://www.findtrianglelistings.com
0 votes Thank Flag Link Fri Apr 27, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer