Is it possible to buy a Home with absolutely NO CLOSING COSTS!!! (credit, deal)

[Hevenlylove]

Originally Posted by kort677

if I were you I'd start looking for another line of work now, maybe used car sales, because if people can spot you as a phony here you won't stand a chance trying to sell real estate

Learning from the experiences of other is what life is abut kort. If you are not willing to teach then you shouldn't say nothing!

[Hevenlylove]

Originally Posted by kort677

if I were you I'd start looking for another line of work now, maybe used car sales, because if people can spot you as a phony here you won't stand a chance trying to sell real estate

Better yet, if you are not well versed in a topic, join and answer another post!

[Hevenlylove]

Originally Posted by hereinfla

I think this is a one-two thread. One asks the question, the other answers, then we bite and they get business. Couple of new May members on here. (color me cynical)

Perfecly entitled to your opinion. I respect that.

[Ronald Wright]

No clsoing cost loans are loans that the lender charges a premium interest rate (higher than a par rate) in exchange for paying your closing costs. The additional interest is tax deductible if you itemize on your return but you get to keep your cash. The contract could include a seller concession for picking up moving expense etc. or your agent could rebate you some commisison to pick that up. Rebates from agents are not always legal in every state.

[Ruger20]

I always thought that even if you roll all of your closing costs into the loan, you still needed 3.5% for FHA or 5% down for conventional.

I guess you can roll as much into it as you want as long as the house will still appraise for the amount (shrug)?

[Ronald Wright]

The question was

Is it possible to buy a Home with absolutely NO CLOSING COSTS!!! So rolling your costs into the loan woiuld not be no closing cost it would be financing the closing costs.

In terms of down payment the question was not how do you buy a house without putting up a down payment. I have done no closing cost VA loans which were 100% loan to value and I think there are other programs around for that as well.

[runswithscissors]

Originally Posted by Ronald Wright

The question was

Is it possible to buy a Home with absolutely NO CLOSING COSTS!!! So rolling your costs into the loan woiuld not be no closing cost it would be financing the closing costs.

In terms of down payment the question was not how do you buy a house without putting up a down payment. I have done no closing cost VA loans which were 100% loan to value and I think there are other programs around for that as well.

No, the question was closing costs, home warranty AND home inspection, appraisal fee & Moving Expenses Paid for them.

In other words, pre BUBBLE scams.

This thread was from 2007 as one might predict haha.

[Ronald Wright]

I addressed the items you mentioned in my response

The contract could include a seller concession for picking up moving expense etc. or your agent could rebate you some commisison to pick that up. Rebates from agents are not always legal in every state.

The etc includes Home Inspection, Moving Costs, Warranty and payment or reimbursement of apprasial fees. These details have nothing directly to do with scams or a bubble markets.


Home warranty AND home inspection, appraisal fee & Moving Expenses Paid for them.

[AES328]

You're talking to 7+ years ago.

[Ronald Wright]

Yeah but guess what it hasn't changed in 7 years plus the guy who is responding to me was 5 days ago