I'd like to purchase my own home but am on a fixed income. My credit is excellent.

Asked by dianamanwaring, Pulaski, NY Tue Sep 4, 2012

Is it possible to do this with zero down, with the closing costs covered by the seller? Please advise. Thanks.

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8
Stevens & Ma…, Agent, Centerville, MA
Tue Sep 4, 2012
The best thing to do is call your local bank whom you do business with or a mortgage broker. Good luck on finding your perfect home.
5 votes
The cape cod market is booming! Take advangate of the interest rates & prices! Now is the time to buy!! Call us and we guide you through the process!!
Flag Wed Oct 17, 2012
I spoke to my agent who suggested I speak to a professional. I found out there are so many options.
Flag Wed Oct 17, 2012
Great answer.
Flag Tue Oct 9, 2012
Thanks for your answer.
Flag Mon Sep 17, 2012
I know you were instrumental in introducing us to professionals who saved us alot!!!
Flag Wed Sep 5, 2012
Patricia M M…, Agent, Marcellus, NY
Mon Jan 14, 2013
Excellent credit is a great start Diana. Next concern is what kind of payment is affordable- by bank standards. A visit with a local loan officer will help you with this. Even than the type of loan , the type of property you are buying will affect how much cash you need and how much the seller can help.
So, its best to have an experienced agent involved as well., I am familiar with the Pulaski area and would be happy to help you.

Patricia McShane Broker
315-487-1929
0 votes
Scott Godzyk, Agent, Manchester, NH
Tue Sep 4, 2012
It could be, the only way to know is for you to meet with a local and trusted loan officer who can prequailify you at no cost and let you know what programs are available given your situation.
0 votes
R Wright, Other Pro, NY,
Tue Sep 4, 2012
Moat loans will require a deposit of at least 3.5%. At a minimal you need to show the source of this deposit. There are some purchase programs that will also grant funds that can be applied to this 3.5% deposit. If you need help with the loan process or home purchase please call me anytime. 914-299-0420.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Tue Sep 4, 2012
Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously, therefore for a personalized answer regarding qualification visit with any licensed loan officer; he/she can better advise as to your options....
0 votes
Christopher…, Agent, Tarrytown, NY
Tue Sep 4, 2012
Hi, A mortgage professional will tell you exactly what you can qualify for. They will analyze your situation and help you lock in the best product for your needs. I recommend Christian Babcock from Mortgage Master Inc in Tarrytown NY, 914.447.9691.

Sincerely,

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
William Raveis Legends Realty Group
914.406.9023
0 votes
Maria Cipoll…, Agent, Coral Springs, FL
Tue Sep 4, 2012
Hi,

Yes, Of course is possible. You just need to call a mortgage broker and he or she can give a pre-qualification letter.

Sincerely,

Maria Cipollone
http://www.Flahomespecialist.com
0 votes
Karen Hammo…, Mortgage Broker Or Lender, Syracuse, NY
Tue Sep 4, 2012
Yes, its possible to purchase a house with fixed income. The best thing to do is contact your bank that you do your banking with and speak the mortgage consultant. At that point the mortgage consultant will work with you to get a preapproval letter - then if you qualify you be able to start the process of looking for a home. Or, if you prefer give me a call and I give you a mortgage consultant to speak with. Good Luck!!
0 votes
Great reply. How is your market in Fulton?
Flag Tue Sep 4, 2012
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