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Author Topic: 0% Down. Check it out!  (Read 2437 times)

Offline pianoman9701

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Re: 0% Down. Check it out!
« Reply #15 on: May 20, 2024, 11:36:23 AM »
I didn't want to post Wa fed on your thread. I know this is your profession and I wanted to respect that.

I appreciate that. The post is about another topic but I asked you.  :)

Now, back to $0 down! The normal 3% down payment isn't a gift. It's deferred until that mortgage is closed, either by sale, refi, etc, and will be paid off at the end. But there's no interest, no payments, and it doesn't affect DTI. The maximum limit is $15,000.

Remember that if you're an honorably-discharged veteran or active duty, you can get a mortgage with 0% down, but also no PMI, which saves you hundreds of dollars a month. In addition, VA mortgages are normally a lover interest rate than conventional.
"Restricting the rights of law-abiding citizens based on the actions of criminals and madmen will have no positive effect on the future acts of criminals and madmen. It will only serve to reduce individual rights and the very security of our republic." - Pianoman

Offline highside74

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Re: 0% Down. Check it out!
« Reply #16 on: May 20, 2024, 11:55:28 AM »
I didn't want to post Wa fed on your thread. I know this is your profession and I wanted to respect that.

I appreciate that. The post is about another topic but I asked you.  :)

Now, back to $0 down! The normal 3% down payment isn't a gift. It's deferred until that mortgage is closed, either by sale, refi, etc, and will be paid off at the end. But there's no interest, no payments, and it doesn't affect DTI. The maximum limit is $15,000.

Remember that if you're an honorably-discharged veteran or active duty, you can get a mortgage with 0% down, but also no PMI, which saves you hundreds of dollars a month. In addition, VA mortgages are normally a lover interest rate than conventional.

If you combined this offer with a builder that is offering to help buy down the Interest rate the buyer could be in a great position they weren't expecting.

Offline pianoman9701

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Re: 0% Down. Check it out!
« Reply #17 on: May 20, 2024, 02:28:04 PM »
I didn't want to post Wa fed on your thread. I know this is your profession and I wanted to respect that.

I appreciate that. The post is about another topic but I asked you.  :)

Now, back to $0 down! The normal 3% down payment isn't a gift. It's deferred until that mortgage is closed, either by sale, refi, etc, and will be paid off at the end. But there's no interest, no payments, and it doesn't affect DTI. The maximum limit is $15,000.

Remember that if you're an honorably-discharged veteran or active duty, you can get a mortgage with 0% down, but also no PMI, which saves you hundreds of dollars a month. In addition, VA mortgages are normally a lover interest rate than conventional.

If you combined this offer with a builder that is offering to help buy down the Interest rate the buyer could be in a great position they weren't expecting.

I agree. That's a great idea. Builders usually have deals with lenders to give them business. Somehow, they get around illegal referral fee laws and the end result is often an increased rate.
"Restricting the rights of law-abiding citizens based on the actions of criminals and madmen will have no positive effect on the future acts of criminals and madmen. It will only serve to reduce individual rights and the very security of our republic." - Pianoman

Offline bustedoldman

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Re: 0% Down. Check it out!
« Reply #18 on: May 30, 2024, 06:46:47 AM »
Will this work for a multi family residence (Duplex)?

Offline pianoman9701

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Re: 0% Down. Check it out!
« Reply #19 on: May 30, 2024, 09:32:44 AM »
Sorry, no - single unit only.
"Restricting the rights of law-abiding citizens based on the actions of criminals and madmen will have no positive effect on the future acts of criminals and madmen. It will only serve to reduce individual rights and the very security of our republic." - Pianoman

 


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