Home > Believe It Or Not, There Are Still Ways To Buy A House With No Money Down

Believe It Or Not, There Are Still Ways To Buy A House With No Money Down


Housing prices show no price of dropping, and overall, US wages have remained stagnant for years, if not decades. But according to Business Insider, there are still a few ways one can purchase a home without having to come up with a downpayment--if you're prepared to put in the work. Active and former members of the military can get a Veterans Affairs loan of up to $484,350 in 2019, often with a lower interest rate than a conventional mortgage. This loan requires no down payment and no mortgage insurance--but comes with strict guidelines. The buyer must also pay a 'funding fee,' too. USDA loans help people in rural areas buy homes with zero money down, provided you have a 'low-to-moderate' income and can pay a 1% funding fee. An FHA loan asks for a 3.5% downpayment. However, it requires a credit score of 580 or higher and a debt-to-income ratio below 43%.

Added on the 29/10/2020 16:14:27 - Copyright : Wochit

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