Financing in 19127>Question Details

susan , Real Estate Pro in Petoskey, MI

I would like to buy a house with zero this possible in this day and age,,,,I have excellent credit?

Asked by susan , Petoskey, MI Fri Jun 8, 2012

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Hello Susan,

It is possible to buy with very little money down. PHFA, USDA and VA loan all have no money down.

PHFA is throught the Pennsylvania Housing Finance Agency. USDA is the department of agricuture and limited to rural homes. VA if for veterans. Also certain counties have down payment assistance for the 3.5% FHA down payment. Montgomery County is one of them, Philadelphia is not.

Alan Openshaw
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
NMLS ID 143960
0 votes Thank Flag Link Sat Jun 9, 2012
As previously stated, USDA and VA are your options for owner occupied purchases.

With a FHA loan, you can have your entire down payment gifted from a family member, which is a mere 3.5% investment towards your loan. FHA purchase loans are for owner occupants only.

Some times there may be a county or state or even city program that'll offer grants to cover your down payment but those are so few and far between these days with the current economic slump the country/states/counties/cities are in, I wouldn't count on that but if it's available, that's a nice perk if you can get it.
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0 votes Thank Flag Link Fri Jun 8, 2012
Perhaps. Are you looking to buy in NJ or PA?

Eric Axelson
0 votes Thank Flag Link Fri Jun 8, 2012
Hi Susan!

You most likely need as little as 3.5% down for a purchase today.

I have an excellent financier, who can answer all your questions factually.

Please email me if you would like his contact info , or if I can help you with real estate agent services.

Thank you!
Ana Barlow
The Barlow Group
Keller Williams Realty
Center City Philadelphia
0 votes Thank Flag Link Fri Jun 8, 2012
yep, it's possible, I do them often, good luck,

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
0 votes Thank Flag Link Fri Jun 8, 2012
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