Home Buying in 63112>Question Details

Beatrice Nor…, Home Buyer in Saint Louis, MO

Interested in buying one of two properties on my block. Neither are worth the listed price.

Asked by Beatrice Norman, Saint Louis, MO Thu Oct 18, 2012

I don't want to take a loan, but don't have all the cash & not the best credit. Can a home be bought from the bank without a loan if you have a large enough down payment?

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Answers

2
No - there will need to be some sort of financing in place to cover what cash cannot. I would suggest either saving the cash or repairing your credit.
0 votes Thank Flag Link Thu Jan 31, 2013
The only way to purchase a property, from a bank or an individual, without a loan or some kind of financing is to pay the full cash amount at closing. A Bank will require you to give them "proof of funds" showing that you have the amount needed if you are not doing a traditional loan.
0 votes Thank Flag Link Mon Oct 22, 2012
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