Home Buying in 19124>Question Details

Jcolon225, Home Buyer in Philadelphia, PA

i am a first time home buyer in a bad situation. i am having problems in the home i am renting and would like to purchase my own house but..

Asked by Jcolon225, Philadelphia, PA Fri Apr 4, 2014

havent had room to save. do i have to have a down payment to purchase a home? and if so how much?

Help the community by answering this question:


We offer VA and USDA loans with no money down. VA you must be active duty military or a veteran. USDA requires you make below a maximum income guideline and that you buy a qualifying property.

FHA allows for 3.5% down and conventional 5% down. These programs are available for virtually all properties.

I am available to help you at your convenience if you wish.

I also offer credit score improvement programs for free while we work on your mortgage.

If you like my answer above, consider clicking on a “Thumbs Up” or “Best Answer”


Robert L. Hanson
Gladewater National Bank
First Time Homebuyer Specialist

Direct: 240-752-7549 Cell: 301-651-7822
Email: robertlh66@verizon.net
NMLS# 695929

Rate quote or live chat with me at the link below:

0 votes Thank Flag Link Mon Apr 7, 2014
Hello, First you have to get pre approved. Usually you need 3% down mimimal depending on the loan program. If you get (and qualify for) a V.A. loan (Veteran or in military) it's 0% down , and USDA (rural housing) loans are zero percent down as well. The main questions are:
1. what is your credit score?
2. how much can you save over the next few months?
3. do you have a stable job. What is your annual income?

Start with a basic pre approval that takes 10 minutes and go from there. Let me know if I can help.

0 votes Thank Flag Link Mon Apr 7, 2014
Give Victoria a call.
Discuss the housing you will need and existing market conditions.
Victoria will be able to direct you to a lender with a track record of financing purchases of this type and for folks in situation just like yours.

It may be necessary to fix a few thing or do some strategic planning.
But every journey to home ownership begins just like yours.
It starts with the first step.

Now, if you are serious, pick up the phone and call, Victoria is not keeping her phone number a secret. If you are not serious, use that 'contact' link.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
0 votes Thank Flag Link Sat Apr 5, 2014
Hi depending on the loan you get determines the amount of a loan. If you are a veteran, you can get a VA loan it has 0 down. FHA requires 3.5% of the purchase price. And conventional can have at least 5% down. There are programs available as well for first time home buyers. You can contact me at 267-918-6322 for more information. I can also put you in touch with a loan officer that can help
Web Reference: http://Www.themackgroup.com
0 votes Thank Flag Link Sat Apr 5, 2014
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