|
Yes, it is possible to still get into a home with 'low or no money down.'
There is even down payment assistance available at THDA. Ask your lender for information.
Several things factor in for you to qualify: credit and income, for instance.
Low money down can be a wonderful thing, letting you get into a home and enjoy the benefits of homeownership (tax savings, a yard, neighbors, building equity, etc.). But there can be a problem if your budget is tight, or if you don't have job security (a lot of us don't these days) and you need to quickly sell the house. There may not be enough equity to pay closing costs if you must sell in a hurry. So be careful and manage your money if you are lucky enough to get in a home with little or no money down. Making that mortgage payment in a timely manner each month is your priority! Vacations and a new SUV may have to wait.
Check with your lender. Or, if you need recommendations for lenders, please email us or call Sarah or John Rummage, Nashville TN Realtors, for home, condo, REO bank owned foreclosures, student housing, second home listings and properties.
|