Can You Really Buy a House With Only $1000 in Your Pocket?

Sometimes! Have you been thinking about buying a house but figure you won't live long enough to save up that huge down payment? Never fear! Hope is here! Arizona has several down payment assistance programs that provide a grant to homeowners who qualify that shaves 3% off the minimum down payment. That's a huge chunk of the low down payments required for FHA and some conventional loan programs. And it gets better... If the seller agrees to contribute towards your closing costs - effectively financing those closing costs - you might be surprised at the small amount of cash you need to get those house keys. I have seen folks buy for … [Read more...]

HUD Homes – $100 Down Payment, Oh Yes!

A low down payment opportunity that has been flying under the radar lately is the growing inventory of HUD homes. Owner occupants can, in most cases, purchase homes for only $100 down and HUD will help out with closing costs. One of the few low down payment programs available close in and a nice alternative to USDA financing. Although HUD properties might have the reputation of being in very poor condition, many are actually very nice homes. And, the HUD sets up the bidding, owner-occupants have certain advantages over investor buyers. … [Read more...]