Real Estate Blog – Condotron

Condos – Properties – Real Estate – Mortgages

21 Jun

Zero Down Home Loans: What Are They?

Posted in Money, Real Estate on 21.06.09

nri-home-loansOwning your own home is something that everyone in the world dreams about – however, if you do not have the means to own your own home, you have to get a mortgage.  Understanding mortgages and how they work is something that is very difficult, however, there are many different loans that will allow you to put down 0% and that is exactly what we are going to explore right now.  Usually, zero down loans are extremely difficult to find, but with the way that the real estate market is panning out, lenders are willing to let you put zero down.

One thing that you need to know whenever you are trying to be considered for a home loan with 0% down is that you have to have good credit.  Actually, the better the credit score, the better off you are going to be, so you might want to check out your credit score before you try and get one of these home loans.

Finally, interest rates on zero down home loans are usually higher, so that is something that you need to take into consideration as well.  Also, how long the loan is going to last is usually longer – so think about these things whenever you are considering a home loan with zero down!

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