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| Trying to get your foot in the door…literally? |
If you're tired of paying rent; tired of paying so much in taxes; tired of paying someone else’s house payment…let’s get you a place of your own. With that goal in mind, the process so often starts with the same question: "How much do I need to put down? What can I do now? I can't save $50,000-$90,000 for a 20% downpayment!"
Well, even if your wallet is empty, you may have enough to
put down on a house of your own. How much do
you have to put down if you want to buy a house? That depends on countless factors, but the real answer is...20%,
10%, 5%, 3.5%...or...yes, even nothing down.
“But aren't these Zero-Down programs a just a gimmick to get
me to buy?”
No. Absolutely not.
- There are communities; in fact there are entire towns that that fall under USDA guidelines, with 0% down financing available.
- FHA loans allow for a seller to credit buyers up to 6% toward closing costs.
- VA loans allow for up to 4% seller's credit, but will loan up to 100% of your new home's value.
True story. The first time that I looked into buying a house I learned pretty quickly that I just wasn't going to be able to make it happen...
...until...
...I talked to a Realtor. The agent that I met with put me in touch with a lender whom I learned that I could trust. I put my faith in the experts; my agent and my lender, and before I knew it...I was moving in!
Looking back, the only thing I regret is that I didn't do it earlier.
...until...
...I talked to a Realtor. The agent that I met with put me in touch with a lender whom I learned that I could trust. I put my faith in the experts; my agent and my lender, and before I knew it...I was moving in!
Looking back, the only thing I regret is that I didn't do it earlier.
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| Our first home. Oakley, CA 2004 |
I ended up writing a full price offer, allowing the seller to stay in the house for an extra month...IF...they agreed to cover all of our closing costs; 100% of ‘em. They agreed, leaving me needing
only to come up with $9,975 of down payment money. Well, I didn't even have that. I really only had about $1,000 in my bank account. I asked my parents for a few thousand dollars (yes, I was very fortunate) and they were really happy to help me get into my very first house and start
growing roots in my new community. The entire process took 40 days...from the day I met my Realtor until the day I closed escrow.
I say and write this often, "Don't wonder! JUST ASK!" Ask an expert. They're either going to give you good news...or good guidance. Both are in the right direction!
Thanks in advance for remembering my name when the topic of Real Estate comes up in conversation. If you're local , just remember Andy@LoisLauer.Com I'm always here to help.
My business thrives by word of mouth. If you appreciate the information provided on my blog, please share this post on your favorite social media sites, and with anyone you feel could use my service.
Until next time.
Andy Blasquez Cell ~ 909.539.3292
BRE#01826135
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E-mail me on Andy.Blasquez@gmail.com
