Even as tough as it is for home buyers to secure a loan these days, there are still homes for sale which qualify for zero down and low down payment home loans. A loan program which still offers zero down payment loans is USDA. This loan program can be a wonderful opportunity for those home buyers that have good credit but have not had the opportunity to save enough for a down payment.
The problem is finding the homes. USDA has a website where a buyer or agent can type in an address to see if a home qualifies, but this can take quite a while if you need to check 20 or 30 homes. The flip side is that it’s also very frustrating if you’re looking in an area that should qualify, you find the perfect home, and it turns out the line to qualify for USDA zero down loans ends across the street (I’ve actually seen this happen). USDA is not the only option though.
I’ve also recently learned of other loan programs which allow folks to buy a home with little or no down payment. These programs are typically not well advertised, but they are becoming available again. There is the FHA $100 down program which can be used for certain foreclosure purchases when the owners will occupy the home. There is also a bank in the area now offering a program which has home loans with down payments between zero and three percent, all with no private mortgage insurance (PMI). This can be a huge savings for those who qualify. The biggest challenge is just finding qualifying homes and mortgage companies who offer these unique programs.
To make it easier, I’ve developed a FREE list of low down and zero down qualified homes. This list is delivered via e-mail automatically and updated any time there is a price reduction or new eligible home put up for sale. At the time of this writing, the list contains over 150 zero down and low down eligible homes in Guilford County. To receive your free list of zero down homes with all future updates or to learn more about loans with no PMI, just call, e-mail or fill out the form below.
Once you contact me, I’ll just need to call back to confirm your information and you’ll get your first FREE list of zero down homes right away.