Home Buying in Umstead>Question Details

Oak23, Home Buyer in Raleigh, NC

is it possible to get in zero down?

Asked by Oak23, Raleigh, NC Sat May 26, 2012

Help the community by answering this question:


Many great answers here.

However, Zero down loans can be quite expensive. Working with a Realtor and a Mortgage Specialist can help you with your best options.

Work history, Credit history / score are all part of the process.

Best of Luck
0 votes Thank Flag Link Mon Aug 27, 2012
BB&T has a first time home buyers program called the CHIP loan. It offers 100% financing, but your credit score has to be above 700, minimum 2 years at the same employer, maximum income of around $63,000, and you can't have more than 42% debt to income ratio including the mortgage payment. Oh, and the house has to be your primary residence, and you can't own any other residential property within the past 3 years. Hope this helps!
0 votes Thank Flag Link Wed Aug 22, 2012
Yes it is possible it is best to let your Realtor recomend a few lenders who can better help you see if you and your home qualify.
0 votes Thank Flag Link Sat May 26, 2012
Yes! When you have a great credit score and a good work history. You may contact with a realtor and she will connect you to a loan officer who can help you in your financing. The following are your options:

2. USDA LOANS (FOR ELIGIBLE areas and income requirements)
3. NC Housing Finance (for first time home buyers if funds are still available)

I would highly recommend that you talk with a realtor; most of them are familiar with the above loans/financing alternatives and will be glad to connect you to the right loan officer to work with you . One should be able to help you. In our case, we offer a 1 to 1 1/2 hours of free consultation in our office. Please call at 919-676-6917 for assistance. Or visit our site at http://www.CarolinaMaxRealty.com. We help people understand the tax benefits, financing alternatives and the investment aspects of owning a home. Good luck!!
0 votes Thank Flag Link Sat May 26, 2012
USDA loans for rural properties which includes Chatham County and some parts of Orange County. Also, there are some special programs offering zero money down but you need to have a good credit score and a solid work history.
0 votes Thank Flag Link Sat May 26, 2012

1. VA loans.
2. First time home buyers or others eligible for down payment assistance.
0 votes Thank Flag Link Sat May 26, 2012
There are multiple ways to get a buyer in houses with 0$ down.


John T. Little
Broker Owner
Triangle Realty Solutions
4620 Watkins Rd.
Raleigh, NC 27616
Ph#(919) 798-6285
Fax (877) 447-4333
0 votes Thank Flag Link Sat May 26, 2012
Depends on the loan you qualify for. USDA loans for (mostly) rural properties may be 100% as are VA. You may qualify for a $100 downpayment program through HUD.

You'll have some out of pocket expenses to pay along the way (pest and housing inspectors, surveyors and appraisers like to be paid up front). Having some money is much more savory to a lender than coming empty handed (sigh).
0 votes Thank Flag Link Sat May 26, 2012
There are several programs with zero down including VA if you qualify, USDA and a down payment assistance program. Where are you looking to buy? Are you working with a lender who can tell you your personal options?
0 votes Thank Flag Link Sat May 26, 2012
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