How to buy your next home with no money down!

It is hard to believe but you can by a home with no money down. There are many methods in which this can be accomplished.

The First is the VA loan or also called the Veterans Administration. People who are retired or active members of the military and their unmarried widows may be eligible for this kind of loan. This includes all branches.

The second way is using the $10,000 down payment gift program. These programs offer up to $10,000 or 5% off the purchase price. You do not have to be a first time home buyer and there are not income limits.  

This gift may be used on any residence in the US. However you must live in the home and it must be your primary residence. This cannot be an investment home. 

The down payment can be used with either a FHA loan or HUD loan. I wish I new about this program when I bought my first home. It would have been a nice gift.

 The third option will only be available if the seller is willing to do owner financing and not require a down payment. It all depends on the seller in these circumstances.

The fourth possible way to get a home mortgage with no money down is real estate swapping. In this case you would trade real estate with another real estate owner. You would have to check with a lawyer or Realtor to find out the legalities of real estate swapping.

Another option is HUD homes for first time home buyers. This program is offered to low income families. This program helps with the down payment and closing fees.

These are several ways that you may be able to purchase your next home with no money down.  When buying my first home I had no idea about any of these no down payment options and programs. That is why I am bringing this to you. Be sure to search out all your options and find the one that best fits your situation.   

 

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