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How To Buy A House With No Down Payment OR Closing Costs

Looking at buying a house or get a zero down mortgage loan? Or maybe just learn how to buy a home with little to no money down as a first time homebuyer. We've got all the tips and strategies for home buyers looking to invest in real estate with no money down.

Whether you use an FHA Loan, USDA loan, VA loan, or maybe Navy Federal Credit Union. We'll explain exactly how to finance a mortgage when investing in real estate with little to no money. It's no secret that saving up for a down payment on a house can feel like an IMPOSSIBLE challenge, especially in today's real estate market where prices always seem to be soaring.

However, don't let that discourage you. Trust me, there are several creative and innovative ways to make your dream of homeownership a reality. Not only will you learn the secrets to buying a home with NO MONEY DOWN and ZERO closing costs. But if you watch until the end, I wanna show you how to avoid one of the biggest barriers to homeownership - Not having enough cash for a down payment.

Here are 7 Ways to Buy a Home with NO Money Down and $0 Closing Costs:

#7. The FHA loan
In the world of financing, FHA loans emerge as a popular and enticing option. What is an FHA Loan? Well, with an FHA loan, you can secure a new home by putting down as little as 3.5% of the purchase price. Not only that, but here's an added bonus: that down payment can even be a financial gift from your family or a qualified non-profit or government agency. FHA loans also offer another advantage that can make a world of difference for potential homebuyers. Unlike other loan programs, FHA loans come with lower down payment requirements and less restrictive qualifying criteria.

On the other hand, be aware of one crucial detail. With the FHA loan program, you'll be required to pay a mortgage insurance premium regardless of the amount of your down payment. While this may seem like a drawback, it's a small price to pay considering the benefits you gain from this loan option.

#6. Zero-Down Home Loans With Private Lenders
True enough, government-backed programs are not your only option. While these programs have their benefits, it's worth knowing that some financial institutions also provide the opportunity for no-money-down mortgages. Although not as prevalent as they were before the 2008 financial crash, these loans can still be found.

How do you qualify for a no down payment loan from a private lender?

Let's take a look at a couple of examples. North American Savings Bank and Navy Federal Credit Union are two lenders that offer such loans. Navy Federal Credit Union even goes the extra mile by not requiring private mortgage insurance, also called PMI.

However, note that membership with Navy Federal is a prerequisite to qualify for their loan program. On the other hand,

NASB extends this mortgage option exclusively to borrowers with a credit score of 700 or higher.

If you're considering the possibility of a zero-down home loan from a private lender, reach out to the lender directly for more information.

How To Buy A House With No Down Payment OR Closing Costs

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