Home Buying in San Antonio>Question Details

sa3333, Home Buyer in San Antonio, TX

Looking to buy a home in April 2013. Have good credit, $65K Income, but only $4000 Cash.

Asked by sa3333, San Antonio, TX Mon Mar 4, 2013

I have been pre approved for up to a $180,000 loan. I have NOT served in the military. I am a first time home buyer and don't want to put any money down for down payment or pay for the closing costs with my cash. I want to save the $4000 for emergencies and want to roll my down payment & closing into my loan. Are any banks or programs doing this in the San Antonio area. I would like to get in touch with you, or anyone who is used a company or lender that helped them out in this way.


Help the community by answering this question:


Yes it can be done, please call me so I can go over the details with you. I just closed a deal and the buyer put nothing down. I got the seller to pay for his closing cost so, yes It can be done.

Jose Salas
Home Team of America
1 vote Thank Flag Link Mon Mar 4, 2013
Thanks for your question - on the closing cost issue, in the current market, many times working with an experience Realtor, you can get the sellers to pay some or all of your closing costs. For downpayment, without being eligible for a VA loan, there are just a couple of programs out there currently but they have specific income requirements and some (USDA) has requirements on where the home is located. To have maximum flexibility, you might consider an FHA mortgage with a 3.5% down payment. Hope this helps, if you need further information or would like me to represent you, just give me a call (210) 269-8086 Direct Line

Royce Simmonds, Broker-Owner, Simmonds Real Estate Inc.
Bio and other real estate info at: http://www.roycerealestate.com
1 vote Thank Flag Link Mon Mar 4, 2013
Hi there! Congratulations for being pre-approved, yes, there is a program where I can get you in as first time home buyer, no down payment, no closing cost, no fees, and below market 30 yr interest fixed interest rate. Send me an e-mail so I can explain to you the details.
0 votes Thank Flag Link Sun Mar 24, 2013
It will be difficult for you to secure loans at a nice APR.
0 votes Thank Flag Link Mon Mar 18, 2013
I have great news!! Call me.

Alice Brusco, MBA
Keller Williams Realty
Realtor / Broker Associate
0 votes Thank Flag Link Wed Mar 13, 2013
I have great news!! Call me.

Alice Brusco, MBA
Keller Williams Realty
Realtor / Broker Associate
0 votes Thank Flag Link Wed Mar 13, 2013
Hi, first i want to congratulate you for having a good credit. there are some programs out there available for a first time home buyers like you. I will explain in details. if you have not found any real estate agent yet let me know i would like to help.

Cora Hagerty, Realtor
0 votes Thank Flag Link Tue Mar 12, 2013
There are zero down loans for other than Veterans. Some are based on your income needs and some are based on the home locations. Give me a call so I can help you find the financing that works for YOU!

Christine Henderson
Better Homes & Gardens Real Estate Bradfield Properties
Changing Real Estate Dreams Into Reality Since 1985
0 votes Thank Flag Link Tue Mar 12, 2013
I can help you finance a home with little to no money down. Please call me at 210-789-2870.
Thank you,
Jon Nichols
Nichols Home Lending
0 votes Thank Flag Link Sun Mar 10, 2013
Did you lender tell you about USDA loans? This is easy and with the right builder you can get everything you want.

Call me to discuss. Terri Russo, Home Team of America. 210-385-0305
0 votes Thank Flag Link Sun Mar 10, 2013
A few programs that may help you are the Texas Bond Program, Hip program offered for Bexar County, or a USDA. All of this will allow you to purchase a home with very little money down. I love the fact that you wish to save your money for emergencies. Good Luck.
0 votes Thank Flag Link Thu Mar 7, 2013
Good news! I can definitely place you in a great home with what you have to work with. There are DPA (down payment assistance) programs, 100% financing loans, the seller can pay your closing costs; there are many ways to get there from here. Contact me for more information. Talk to you soon : )
0 votes Thank Flag Link Tue Mar 5, 2013
I have worked with many, many first time buyers who have sought out the same conditions as yourself. And I just closed on a home of this sort last week. I will gladly be of service to you and guide you on this path.

With first time buyers, I like to educate them first of the whole process so they know ahead of time what to expect and what they can expect of me and can make sound decisions without regret.

Please feel free to read through my recommendations so you can see for yourself the what others have to say of my service.

I look forward to hearing from you soon

Gregory Touchstone
Keller Williams Realty
0 votes Thank Flag Link Mon Mar 4, 2013
Hi sa333,

Yes, there is way to accomplish what you are looking for. There are several ways to do this, actually. I am a lender here in San Antonio and I do quite a few of these types of transactions.

Please cal me at your convenience to discuss.

Vino Alonzo, Loan Officer
NMLS# 184279
Castle & Cooke Mortgage
0 votes Thank Flag Link Mon Mar 4, 2013
There may be a few programs that might help you avoid using your money for a down payment. For instance, if you are a teacher or emergency worker or willing to buy in target areas, there might be a program for you.

Good luck,
0 votes Thank Flag Link Mon Mar 4, 2013
I have lender who can help you and like the other agents mentioned there is USDA homes that is available to buy with no down. call me for details.

Cora Hagerty
0 votes Thank Flag Link Mon Mar 4, 2013
HI Sa3333,

Now is definitely a terrific time to buy. I don't blame you for not wanting to use your available cash for downpayment or closing costs, however, given your situation, there aren't really any 100% equity loans available to you. You may qualify for a USDA loan and there are lots of areas in and around San Antonio TX that fall into USDA areas. Other than that, an FHA loan is you next, best choice.
There may be some First Time Home Buyer Programs out there as well, but that money can be hard to come by.

My advice is that you find a terrific lender to help you out in that area. As far as closing costs, as others have said, a good Realtor® should be able to negotiate most or all of your closing costs for you.

Another great option for you would be a brand new home, (don't go without a Realtor®) that is offering incentives for you to buy. They; however, would want you to use their lender in that situation.

You do have some options though. I wish you the best of luck in your home search and if you need further assistance, don't hesitate to call or e-mail :)!

Brenda Mullen
Realtor®, ABR®
RE/MAX Access
0 votes Thank Flag Link Mon Mar 4, 2013
Yes, I can help you. But there are some restrictions. Please contact me to show you the way and homes that can be bought.
Jose L. Novelo
0 votes Thank Flag Link Mon Mar 4, 2013
You definitely have options. Based on your income, you likely qualify for some down payment assistance programs and negotiation can help you get the closing costs covered. Another option is to look at new homes where the builder have all types of incentives to get you into a home with ZERO down. Give me a call or email if you'd like to discuss further. Good luck!

Trina Cannon
Century 21 Northside
0 votes Thank Flag Link Mon Mar 4, 2013
If you want, call Popi Winters at United Lending 269-1067 and ask your questions directly. She'll give you answers.

Call me if you need any helping with a home purchase.

0 votes Thank Flag Link Mon Mar 4, 2013
Good afternoon and thank you for your post. My lender will be getting with you to go over different scenario's. In the meantime what area are you looking at, how many bedrooms do you need, square footage etc. Thank you for your reply.
0 votes Thank Flag Link Mon Mar 4, 2013
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