Many are familiar with VA loans, and fewer are familiar with USDA loans, each of which provides a mortgage with no down payment required. Many are unfamiliar with specific types of VA loans & USDA loans, & some of the other types of loans available to a broader spectrum of buyers. In this article, I wanted to share about those and some of the many alternatives. I'm also throwing in an option for $100 down loans, & some options where the buyer doesn't need to come up with a down payment, though technically they require a down payment. Please keep in mind that I am not a lender, only a licensed real estate agent.
3 Conventional loans with no down payment required for 1st time home buyers
Doctor loans at many banks
VA Loans for active duty, reserves, & former military
USDA loans in rural areas
Habitat for Humanity
FHA Plus Loan
VA vendee loans on VA foreclosures including for non-veterans
$100 down on HUD REOs
Program-specific down payment assistance & closing cost assistance
Wrapping closing costs/prepaids into the loan
Seller paid closing cost assistance & even debt pay-down
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8. Contact Adam