Carlton Sheets really did get it right back in the 90's... And it's still relevant today, for owner-occupants or investors alike.
Have you always dreamed of owning your own home but don't have cash for the down payment? Well coming up, I'm going to share with you three different loan options you can use to buy a home with no money down. You can find out more about these options AND request a an exclusive list of qualifying homes by clicking here: Buy with ZERO Down
Number one is the VA. Now, any qualifying member of any of the military branches can qualify to buy a home for no money down. It doesn't matter if it's a newer existing home, and the location doesn't matter as well. It's a great program for those that qualify. However, the VA can be a little strict in their requirements for the applicant, as well as the property. Little things that you might not think twice about on the home itself could actually potentially disqualify the home for a loan, however, you will have the opportunity to let the seller take care of those items. I've had a home that was missing window screens, as an example, not qualify for the loan. So keep in mind if you're a veteran, the veterans home loan is one of the number one picks for no money down. Have you requested your Certificate of Eligibility yet?
Number two is the USDA rural home loan. With this particular program, not only does the borrower have to qualify but the property has to qualify, as in the location. Since it's a rural program, you're going to be limited on the location, as to where the home actually can be located. It's going to be outside of your major urban centers and it likely will be well outside of your secondary cities as well. So if you're interested in living out in the country, this could be the way to go. Now, the USDA does have income limitations as well, but for a lot of folks, that's not an issue. Just keep in mind that you're going to have to qualify in addition to the property location qualifying. And there is a special map that you can use online to actually determine very easily if a particular address qualifies into that program. Look for that link down below.
Now, number three is the FHA with down payment assistance. Typically the FHA loan program is a 96.5% loan, so that's 3.5% down that's left over. But if you pair that with the down payment assistance program such as we have here in Georgia, as an example, we have the Georgia Dream program which will kick in the 3.5% down payment. And not only that, it may actually also provide you money for closing costs as well, if you can qualify. I have had clients that qualified for the whole thing and they were not out of pocket any money at all at closing. So that's an exception not the rule, however it is possible for the right person that qualifies. So that's another option. Look for the link to the Georgia Dream program as well if you are Georgia residents looking to purchase in Georgia.
I hope these three different options are useful for you. If you have any questions or would like to get more information on other financing options, please feel free to reach me at the number below. Please give me a thumbs up here if you enjoyed this video and would like me to share with you additional ones like this. Please subscribe if you'd like to see my upcoming videos and get alerts on those. So, until next time, this is Shane Huey, Your Home Sold Guaranteed Realty.
Shane Huey
www.SoldbyShaneHuey.com/contact
678-408-0105
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