Home Buying in Burleson>Question Details

shelly76033, Renter in Cleburne, TX

If i have a credit score of 750 can i get out of paying a down payment?

Asked by shelly76033, Cleburne, TX Tue Apr 16, 2013

Help the community by answering this question:


For USDA, your city of Cleburne, TX is not eligible, but east of the 67 or north towards Joshua there are areas that would qualify for $0 Down. Other than that you will need a minimum of 3% down for FannieMae or 3.5% down for FHA.

Best of Luck!
0 votes Thank Flag Link Tue Apr 16, 2013
Lowell Sterling has given you very good advice. He is correct, when purchasing a home, your first order of business is to get prequalified for a loan. Once you find out how much you are prequalified to buy, then you are ready to shop for the home that is realistically within your means. If I can help you when you are ready to buy, please contact me! Good Luck & Thanks!
Cathy West,
Keller Williams Realty
(817)681-3170 http://cathywest.kwrealty.com/
0 votes Thank Flag Link Tue Apr 16, 2013
In rural areas or in the smaller towns like Joshua and Alvarado, zero down payment USDA loans are available. Please let me know what questions you have and if you would like to start looking for your new home.
Dave Buske, 817-980-9436, Dave@DaveBuske.com.
0 votes Thank Flag Link Tue Apr 16, 2013
My recommendation is seek the expertise of local loan officers. I have to reiterate "local loan officers."
Because one loan officer may not know that there are other programs out there that may be available to you.

Best of Luck.
0 votes Thank Flag Link Tue Apr 16, 2013
Only a few weeks ago the answer would probably have been 'no'. However, just yesterday I heard from one lender who is once again able to do 90/10 loans, a first mortgage for 90% of the value and a second mortgage for the other 10%. Check around with several lenders and see what can be done. You might also want to check with local realtors to see if they now of such a product in your area.
0 votes Thank Flag Link Tue Apr 16, 2013
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