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What way's could I buy a home?

What are My options instead of a down payment since My Husband and I don't have that at the moment?

Answer Question

Asked by Anonymous at 10:48 PM on Apr. 1, 2010 in Home & Garden

Answers (9)
  • Save money and wait til you CAN afford. it.
    I wouldn't loan someone alot of money without knowing the did have the cash able to pay back.

    Answer by Anonymous at 10:50 PM on Apr. 1, 2010

  • i wouldn't do 100% financing.... and besides now it would be really hard to get that anyway. soi agree w/anon. save up until you have your 20%

    Answer by princessbeth79 at 10:51 PM on Apr. 1, 2010

  • IMO you shouldn't be trying to buy a home if you can't come up with a down payment.... That only means you don't have anything in savings, and you should in case of emergencies, etc.. Sorry, JMO.

    Answer by MrsLeftlane at 10:52 PM on Apr. 1, 2010

  • You pretty much have to come up with a down payment somehow. If you don't have the money, then you have to either save until you do, sell some things, or borrow it. There is a lot more to buying a house than just having enough money to pay the mortgage each month.

    Answer by Anonymous at 10:57 PM on Apr. 1, 2010

  • Don't do it unless you have at least 20% down plus savings. Houses have a lot of up keep that could cost a fortune.

    Answer by BlooBird at 11:01 PM on Apr. 1, 2010

  • mrsleftlane excuse me! Don't tell me what I have and don't have all you know I have 10,000 saved and don't judge I am only asking because it's something I've been thinking about and don't really want to put all My money I have saved to a new home quite yet! So thanks!

    Answer by Anonymous at 11:30 PM on Apr. 1, 2010

  • Thank you ladies by the way I do agree with u, it's not my time yet if I don't feel comfortable putting what I do have for a new home. I will give it a while until I save more then I have now. :)

    Answer by Anonymous at 11:31 PM on Apr. 1, 2010

  • If you don't have an 8 month emergency fund and enough for a down payment and closing I would wait on the house. The reality is 10,000 isn't enough to buy a house, even a modest super cheap one. There are financing options but 100% financing is few and far between, almost no one gives those out anymore. There are FHA loan though where you put down 3-5% which can really help first time home buyers. Good luck keep saving and hopefully you'll be able to buy a house soon.

    Answer by Anonymous at 2:49 AM on Apr. 2, 2010

  • Have served in the military? A VA loan is a dollar down. See if your state has any programs for first time homebuyers.

    Answer by Anna92464 at 2:57 PM on Apr. 2, 2010

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