No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Hi there,
I am looking for an apartment closer to work and the apartment prices are very expensive. They cost the same as a mortgage payment, if not more. My question is:
1. I'm sure this is a no but do banks still offer zero down if you have excellent credit and great debt to income ratio when applying for a mortgage loan?
Please let me know if you have any questions.
Thanks.
Only if you are
1) a Vet and get a VA loan
2) Live in a rural community and qualify for a USDA loan
3) can get special down payment assistance offered by a local entity to help with the down payment
Most people are using FHA these days for purchases
It only requires a 3.5% down payment and allows the seller to pay up to 6% for closing costs (must be negotiated when you make your offer)
Good Luck hope this helps
Brian
620 mid score
3.5% down payment
2 year employment same line of work
Seller can pay up to 6% for closing
I'm going through a first time homebuyer program with US Bank. This program is a conventional loan with no PMI -- and they only require $1000 out of pocket. I spend a bit more than that because I gave $1000 earnest money, paid for a $300 inspection, and $400 for the appraisal. But, I will have a 3 bedroom house with my PITI $200 a month less than the rent I'm paying on a 2 bedroom apartment now. My credit is not the best, but I had a mid score of 640 when I originally applied in July.
I know other lenders have programs like this. If you have a homebuying counselor in your area, they can probably tell you about these programs and other downpayment assistance. I started by going to a daylong "home stretch" (first time homebuyer) class, which cost me $35. I think now is actually a great time to buy. I would be tickled pink to be getting this, even without the $8000 tax incentive.