Whitlow Gives the Low Down on
No Down Payment Needed.
One of the most common misconceptions that I deal with on a
regular basis is people think they need a Down Payment to buy a
home. The truth is…NO DOWN PAYMENT IS REQUIRED. This
is still the case if you are only three-years away from a Foreclosure,
Bankruptcy, or a Short Sale. For all the wonderful Copa residents,
many of you can utilize the USDA loan. The USDA loan is a loan
whereby you can finance up to 102% of the Appraised Value so, in
some cases—you can also pay for your closing cost.
However, there are many other ways to get a NO DOWN PAYMENT
loan, VA Loans require NO DOWN PAYMENT. If you are a Veteran, and even if you have a CURRENT VA LOAN, you
can get another VA LOAN using your Bonus Entitlement.
In addition to that, at Peoples Mortgage, we have many DOWN PAYMENT ASSISTANCE PROGRAMS. We also just
started a program that has a Purchase Money Second Loan to help with the Down Payment.
Also, there are many different ways to get help with your closing costs. The Seller can pay for them, the lender can pay for
them, or in some cases—you can finance the closing costs.
Got questions? Please send me an email at [email protected]