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No Money Down |
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Is there really a way to purchase a home with no money down? |
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The Veterans Administration still guarantees loans for qualified veterans without requiring down payments, though of course other closing costs may be involved.
I suppose you might find a private lender, probably the desperate seller of a property, who might agree to finance the whole purchase for you, though it would be a pretty risky venture for them.
Beyond that, I doubt if any reputable lender is now handling any nothing-down mortgage plans, given the current mortgage mess. Disreputable lenders, who might have offered such loans at high rates of interest in the past, are probably going out of business these days.
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Edith
Originally published on May 4, 2008 |
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