How can i buy a house in south florida with "NO DOWN PAYMENT"? or how can I qualify for one? (sales)

[NEWTOSFLA]

i would need specific info

[jhlcomp]

As things stand now - it will not be possible to purchase a home with zero down. I know people with excellent credit ratings, are wealthy, and they cannot get a mortgage with zero down.

[odysa07]

100% financing is only available for eligible veterans of the US under the VA guarantee program. However, if you obtain an FHA loan you can buy with as little as 3.5% down of the sales price & sellers are allowed to pay up 6% in your closing closts, meaning you can buy a property with very little money. The down payment can be a gift from a relative, I can give you details as to how this is documented. Additionally, first time home buyers who purcahse a home between Jan 1, 2009- Dec 1, 2009 will recieve up to $8,000.00 in an income tax credit/ refund. Think about it, you can purchase a home, let's say with $5,000.00, and will be recieving a credit/refund of $8,000.00 (See Examples below)To qualify for an FHA loan you would need a steady job & income. I will be more than happy to provide Free information to you regarding all the above. Please contact me for further information as well as any questions.

Odysa Castillo
Lic. Mortgage Broker, South Florida
(305)525-1125
ocastillo@greenislandmortgage.com
odysacastillo@yahoo.com


$8000 tax credit/ refund information:

$8,000.00!
FREE MONEY FROM THE GOVERNMENT!HOW DOES IT WORK?FIRST-TIME HOMEBUYERS WHO PURCHASE A PRIMARY HOME BETWEEN:JANUARY 1, 2009 AND DECEMBER 1, 2009WILL RECEIVE AN $8,000.00 TAX CREDIT/REFUND!

THE TAX CREDIT WILL BE EQUAL TO 10% OF THE HOME’S PURCHASE PRICE UP TO A MAXIMUM OF $8,000.00 AND DOES NOT NEED TO BE REPAID!!!

SIMPLY CLAIM THE TAX CREDIT IN YOUR FEDERAL INCOME TAX RETURN!PURCHASED A HOME EARLY 2009 AND ALREADY CLAIMED YOUR TAXES?

NO PROBLEM! SIMPLY AMEND YOUR TAXES WITH A 1040X FORM!

WHO QUALIFIES?SINGLE TAX PAYERS WITH INCOMES UP TO $75,000.00 AND MARRIED COUPLES WITH INCOMES UP TO $150,000.00(*CONSULT WITH AN ADVISOR IF YOUR INCOME EXCEEDS THIS AMOUNT, YOU MAY STILL QUALIFY FOR PARTIAL CREDIT)

EXAMPLES:

1.A TAX PAYER WHO OWES $1,000 IN INCOME TAXES AND WHO QUALIFIES FOR THE $8,000 TAX CREDIT FOR PURCHASING A HOME IN 2009 WOULD RECEIVE A REFUND OF $7,000.00

2.A TAX PAYER WHO OWES $8,000 IN INCOME TAXES AND WHO QUALIFIES FOR THE $8,000 TAX CREDIT FOR PURCHASING A HOME IN 2009 WOULD OWE NOTHING TO THE IRS

3.A TAXPAYER WHO RECEIVES AN INCOME TAX REFUND OF $1,000.00 AND WHO QUALIFIES FOR THE $8,000 TAX CREDIT WOULD RECEIVE A TOTAL REFUND OF $9,000.00

[eger]

Originally Posted by jhlcomp

As things stand now - it will not be possible to purchase a home with zero down. I know people with excellent credit ratings, are wealthy, and they cannot get a mortgage with zero down.

Yes you can, it's called a USDA loan, and in order to qualify you must income requirements and purchase a home or land in a rural area.

[SierraDog]

I believe that FHA loans are offered with very little down, but there are a number of other requirements (the subdivision or condo has to qualify and that is a problem with many of the financially troubled HOAs/associations), for example).