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Buying a new home

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Anonymous
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Buying a new home

 Does anyone have any advice for purchasing a new home with the folowing factors:

 

  1. Good FICO score - 735
  2. currently renting and want to buy a home within the next 6 months
  3. 1st time home buyer
  4. No downpayment

 

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2 REPLIES 2
Anonymous
Not applicable

Re: Buying a new home

FHA loan with 'gift' of downpayment from relative.

 

VA loan (if eligible)

 

Re-sale rather than 'new' with Seller financing (hard to find but out there)

 

Lease/Purchase on a re-sale with higher monthly rent payment partially credited to you.

 

 

Message 2 of 3
ShanetheMortgageMan
Super Contributor

Re: Buying a new home

Why no down payment if you are planning on buying in 6 months?  Are you not able to save up a down payment or are you able to but are just spending it on other items (paying down debt, furthering career, etc.)?
Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
Located in Southern California and lending in all 50 states
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