Home Buying in Holden>Question Details

pegtillyadead, Home Buyer in West Boylston, MA

Can I buy a home with no money down?

Asked by pegtillyadead, West Boylston, MA Sat Sep 8, 2012

I'm a first time buyer looking for a home for my kids and i and i don't have much for a down payment, is buying a house totaly out of the question?

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That depends on your credit score, your debt, your income, what price range you are looking in, and many many other factors. I would talk to a local banker and see if they have any loans that you can get. If not, ask them how to plan for a purchase in the future and follow their direction. Before long, you will be able to buy something.

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1 vote Thank Flag Link Mon Sep 10, 2012

You must put some money down. In order to make your Offer legally binding it must have "consideration" = money.

With that being said - there are 100% finance options, depending on your credit. They involve 2 loans 70/30% or 80/20% to avoid PMI there are also USDA loans of 100% depending on location and availability of USDA funds.

Please give me a call at 978-337-1237 and I will be happy to send you in the direction of a couple loan officers to speak with.

If you're not working with a Buyer Agent, I live in Leominster and do cover West Boylston as well.

Web Reference: http://www.JoyceLin-RE.com
1 vote Thank Flag Link Sat Sep 8, 2012
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