Is it still possible to buy a home with no money down?
Zero down payment loans are still a possibilty in today's market. They are back by the federal government through the USDA loan program. The program is only available to persons buying a home outside the city limits of Salem and Keizer in Marion County.
Another nice feature of the USDA loan is that mortgage insurance is funded by a one time 2% funding fee added to the loan, verses a FHA loan which also charges a monthly Mortgage Insurance fee. The USDA loan ususally costs less per month (PITI) verses the FHA loan.
So, if you don't mind living outside Salem and Keizer you can buy a home with no money down. There is an upper limit as to your income level, but most people fall within the limit. Call your loan officer to learn more.
Need a good loan officer recommendation? Give me a call, I know many who would do a great job for you.
Dave Nuss - 503-931-3378
Yes there are several options still out there for buying a home with no money down. You still have the VA finacing if you are a veteran and still have access to your VA funds.
As Dave mentioned above there is the USDA loan for homes that are outside the city limits. Such as Aumsville, Turner, Dallas, Stayton, Sublimity, Silverton, Jefferson and now Woodburn has been added to this list of cities eligible for the USDA.
There is also a local credit union that has 100% finanicing for First Time Home Buyers and Public School Employees.
If you would like more information about these please give me a call.
Angie Karp
Coldwell Banker Mountain West
503-881-1144
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