Consumption and Real Estate
Zero down home loans?
Question : Zero down home loans?
We bought our house 2 1/2 years ago with zero down. We now have to sell the house and move to the other side of the state due to my husbands company transferring him. We are hoping to just break even with our house. We will have no equity out of the house when all is said and done and no money for a down payment. Are there still zero down home loans available out there so we could purchase another house?
zero down home loans
Best answer:
Answer by jlf
Not any more, unless you qualify for a V.A. loan.
When applying for a home loan your credit report will be reviewed and you may be required to provide a number of other details, including: Employment and income records, Tax Returns for the last few years List of assets, List of liabilities and what you owe, Your budget showing monthly living expenses so that you can demonstrate an ability to pay.
http://www.worldbestloans.com/homeloans.htm
With this information you and your lender will be able to determine the kind of home loan and size of the right mortgage for you. In some cases, you can obtain a pre-approval or pre-qualified certificate, which shows how much you can borrow so that you can then shop for homes in an appropriate price range.