Making Money buying realestate with no Money down!?
Is this a bunch of bull or can someone explain the process. If it’s too lengthy then, it’s probably going to take a lot of work and research. If you are going to refer me to a web site that sells books, tapes, or a siminar then do not answer……Tired of all the sales pitches…
You have to get a 100% loan which means you have to have good credit and usually a higher interest rate. You will also have to pay mortgage insurance being you are not putting 20% down so your payment will be higher. Then The Seller has to agree to pay all of the closing costs, some mortgage companies won’t allow the seller to do this so some research may be involved.
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October 30th, 2009 at 5:00 am
It isn’t that hard, contact a loan broker (sell for many banks) and they can tell you what you qualify for. There is more then one type of loan that would be "no money down". They are actually very popular. Generally high interest (not all) and very common for short sales.
References :
October 30th, 2009 at 5:49 am
You have to get a 100% loan which means you have to have good credit and usually a higher interest rate. You will also have to pay mortgage insurance being you are not putting 20% down so your payment will be higher. Then The Seller has to agree to pay all of the closing costs, some mortgage companies won’t allow the seller to do this so some research may be involved.
References :