No Money Down California Home Mortgage
Loan
We have 100% No Money Down California Loans for
just about every type of borrower. We offer Zero down financing
for Non Owner Occupied homes for the real estate investor and zero
down for the first time borrower with damaged credit.
If you have any questions about a No Money Down Loan or any other
type of loan, please feel free to contact us at (888)
694-0455 today to speak with a California loan consultant
or fill out our "California Home Loan Quick Quote" form.
In this difficult economy where stock valuations are questionable,
one of the best investments is real estate. But for many potential
buyers, the problem is coming up with a down payment to make this
all-important purchase. This should not be the case. It is possible
to buy a home with nothing down, meaning no down payment. There
are several methods by which eligible home buyers can minimize or
even eliminate down payments.
VA Loans - The method of purchasing a home with
no down payment that most people are familiar with is through the
Department of Veterans Affairs, or VA. This benefit is available
to active and retired members of the military service, veterans,
POW's and MIA's and their unmarried widows. All branches of the
service including the Coast Guard are eligible. Also members of
Selected Reserves or National Guard who have completed six years
may be eligible along with many with WW II service from the merchant
marines, military academies and others pulled into service for a
war effort.
HUD - The Office of Housing and Urban Development
(HUD) offers special financing for first-time home buyers. This
program is based upon need and is designed to allow low-income families
to obtain their first home without a significant down payment or
closing fees. Also, many HUD foreclosure homes require no down payments.
House Trading, Lines of Credit - Many professional
investors acquire homes with no money down by trading one property
for another. In some cases, they trade one large property for several
smaller rental properties. Or they trade houses in different cities
to acquire a vacation or retirement home. Property trading is also
a legal way to avoid the capital gains associated with selling a
property. Another way to acquire a property with no money down may
be with a line of credit secured by the equity in another property.
This allows the homeowner to purchase another property using the
accumulated equity in a home without selling the original property.
Job-Related Federal Programs - The federal government
also has programs to help farmers and police personnel acquire homes
with nothing down. For those with limited income who wish to live
in rural areas, the Rural Economic and Community Development Administration
offers farmers home loans with nothing down. Monthly payments may
be subsidized and the interest can be as low as 1 percent. To encourage
police to occupy homes in crime-targeted areas, special federal
programs permit police officers to purchase homes in selected areas
with nothing down.
Local Programs - Some states, counties and cities
offer programs that can eliminate down payments. Often, prospective
home buyers must meet income requirements, hold certain jobs, be
a first-time buyer or agree to buy in a specific area. It can take
some sleuthing to find such programs. Start with your state's housing
agency. Your county or city also may have a housing agency. With
so many methods available to obtain homes with little or no down
payment, the goal of home ownership should be achievable by almost
everyone who desires it.
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