Home Buying in McAllen>Question Details

viridiana862, Home Owner in McAllen, TX

can we make arrengments in the down payments giving in payments????

Asked by viridiana862, McAllen, TX Sun Jun 24, 2012

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there are some low down payment options available .. it really depends on your case... sam
0 votes Thank Flag Link Mon Jun 25, 2012
Im not sure what your question is with the term down payment. If your speaking of the money down required for a mortgage, then the answer is no. And if your even asking the question, I assume you have not tried to obtain a pre-approval, since other funds required to close include earnest money deposits, option funds, closing costs, inspection fees, etc....

If you cannot afford the 3.5% or 5% down, then you will not likely be approved because of all the other fees associated with the transaction and the requirement for reserves.

Your only chance may be a for sale by owner, but typically, they will require as much as 10% down. Good Luck.
0 votes Thank Flag Link Sun Jun 24, 2012
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