So we have been considering buying a home lately. Mainly we have been "discussing the idea", but now we are starting to consider it more seriously. The catch is we have ZERO money for a down payment, or any other fees, etc. and we know next to nothing about buying a home.
Any advice???
2 comments:
Look at local options for first time home buyers. We were able to get 10% of the worth of our house as a 0% loan from Virginia. The loan is deferred until the rest of our house is paid off which is great. The best part is that it begins as a loan, but if we stay in our house for 10 years they forgive the loan and it's a grant that we don't have to pay back. So we had 10k to put down and then another 20k from VA. It was great!
Also, you can get creative with fees and closing costs. Having the seller take care of all of that while wrapping the costs into the price of the house might be a workable solution.
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