Zero down homes are something of a mystery to most people, even most Real Estate Agents. So you are probably asking, "Are they real?".
The answer is YES. Homes can be bought with zero down several ways. The easiest is a VA loan. VA loans are available to just about anyone who ever served in the US military and was honorably discharged. Here in California there is an obscure little program called Cal-Vet that can help too.
These days, less than 2.5% of Americans are serving in the US military. So how does 97.5% of the country get a home with zero down?
There are a couple of ways, one is the Homepath program. Zero down homes in the Homepath program are rare and will require some digging and patience on your part.
Another option is the way all property used to be sold, owner or seller financing. The seller of the house gives you a loan to cover the down payment. These are tougher to do and require some legwork by your Real Estate Agent and loan broker.
Now that home values are starting to creep back up, you have a chance to find a home where the owner might just have enough equity to "carry paper" and get you into that house with little or no money down.
If you aren't sure, always make the offer, the only think that can happen is they say "no", or they say "yes".
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