Loans Answers

Homes with 0 down

Question: I am in need of help in purchasing a home i know nothing about the 0 down and along with having little to bad credit i feel stuck and also wondering if it is a good idea. I live in nyc and i rent a 2 bedroom for $725.00. MY mother lives up stairs and rents for $806.00 per month so we were thinking of a 2 family home and putting the rents to the morgage but i need help. Can anyone who knows about homes or gettting a property with little down payment give me some advice? thanks

Answer: if your credit is bad, or not enough info, you may have a hard time finding anyone to sell to you, check all new home buyer loans, and dont forget to try with your mother as a co-signer, maybe as the primary, i am looking at the same situation myself, and my credit and my fiancees needs alot of work, we will be stuck renting for the next couple of years, just becuase no-one wants to touch us, even though we could come up with a possible 5% down payment. good luck.

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Filed under: Bad Credit Loan