How can I purchase a home with no money down in the Inland Empire of San Bernardino County in California?
Believe it or not there are still 100% financing in California to purchase a home with NO MONEY DOWN! These are not sub-prime or Non-QM loans, these are traditional home loan programs that are on a fix interest rate with no pre-payment penalties.
Image what you can do with the money that you were going to use for the down payment to purchase a home. That money can be used for the closing cost, increase the purchase amount to outbid the other offers presented to the seller, leveraging your position to own a home. Use the funds to purchase furniture for the home or moving expense.
There are 2 true 100% no money down purchase home loan program in California. They are the VA home loan program and the USDA-RD program. Explore these 2 available programs to purchase a home in 2014 with no money down.
The VA home loan program is open to active and retired military personal that have been honorably discharged. Purchasing a home with no money down utilizing the VA home loan program affords military personal the opportunity to own a home for a growing family or set roots in a community at your current duty station.
The other loan program to purchase a home with no money is the USDA-RD loan program. This program is available in a designated area of the county that you are looking to purchase a home in. The USDA program is the only loan program that will allow you to finance the closing cost in the loan, as long s the home appraiser higher than the agreed upon purchase amount.
100 Financing is still an option to purchase a home utilizing the VA and USDA home loan program. If you have limited funds to purchase a home try one of these programs before you decide not to purchase. You will be amazed on what you can purchase with one of these 2 programs, especially the USDA home loan program.
Nothing is better than purchasing a home for less than $1000 for the down payment and closing cost. For less than $1000, we can discuss how you can own a home as your primary residence and this programs are not a gimmick, they are available and ready for you to take advantage of.
So if you are active or retired military, use your VA benefit to purchase and own a primary home with no money, that is a one of the benefits in serving in the United States arm services and you can use the benefit over and over as long as you are eligibility at the time of applying for a home loan. This program also offers an EEM (Energy Efficient Mortgage) to improve the efficient in the home to upgrade things such as windows, hot water heater, air conditioning unit and heater from the home.
The USDA home loan program is great as well for this individuals with limited to no funds to purchase a primary residence. You must purchase in one of the cities designated in an approved lending area of the county. The areas are spread through out through the county where you will begin your home search. We are not doing enough of this program, at least in the area I service. Yes you can purchase a home and have the closing cost rolled into the loan as long the home you agreed to purchase comes in at a higher value than what the purchase contract was signed for.
I welcome the opportunity to speak you about one of these programs so that you are informed of your purchasing power. It does not hurt to have a conversation about you owning a home with no money in 2014! Lets get started by contacting me directly at 909-503-5600 or email me at firstname.lastname@example.org
How can I purchase a home with no money down in California?
by Nathan Rufty