HOW TO BUY A HOME WITH ZERO CASH
This special article has been prepared to outline what you need to know in order to take advantage of an innovative program which allows you to get into the housing market immediately, with zero down payment.
You may have owned a home before and are presently renting, or are a first time homebuyer and need a way to break into the housing market.
Maybe you believe banks require a substantial down payment. Or, you do not want to liquidate your financial assets to use as a down payment on a home.
Regardless of your present situation, you want a way to get into or to re-enter the housing market without producing a cash down payment. The Zero Cash Down Payment Program may be the solution for you.
PROGRAM QUALIFICATIONS
An excellent credit history
no recent history of bad debts
consistent and timely payment of current liabilities (debts).
Limited liabilities
You must disclose all current liabilities (debts) you have in order to determine how much more debt you can carry. (i.e. present car loan, credit cards, etc.)
At least 3 years of employment stability
You must show proof of employment for the past 3 years. A letter of employment from your employer or, if self-employed, financial statements for the past 3 years .
The financial ability to carry larger monthly payments
Without a down payment, you will be required to meet the obligation of larger mortgage payments. Your monthly payments could vary from a few to several hundred dollars more per month.
Under the terms of the program you can purchase many types of properties. They include:
detached or semi-detached homes
freehold town homes
condominium town homes
It is important to note that not all properties qualify for the Zero Cash Down Payment Program. To ensure that you get an accurate picture of what properties may or may not be included in this program in your particular area, it is advisable to review the terms of the program with your Realtor®.
BENEFITS OF THE PROGRAM
No Down Payment
Reap the benefit of building your own equity. Stop paying your landlord's mortgage. You can own your own home without coming up with a substantial down payment
The general perception of many would-be homebuyers, and even that of some Realtors®, is that a substantial down payment is required in order to purchase a home. Many would-be homebuyers feel they have to save for years before they have enough money for a down payment in order to finally enter the housing market. This is simply not true. While they are saving, renters help someone else build equity, instead of building their own equity. With the Zero Cash Down payment Program you don't need a down payment to buy a home.
Buy a Home Now!
If needing a down payment is keeping you from owning your own home, this new program offers you an immediate way to get into the housing market. With the Zero Cash Down Payment Program you don't have to wait to purchase a home.
Approved Bank Program
it is important to know that the Zero Cash Down Payment Program is an approved bank program. Review this program with your lender or Realtor® who have specialized knowledge in financing and can assist you with the Zero Cash Down Payment Program.
