Buying a property with little to no down?
I am excited to purchase my first condo and I want to know if I can accomplish this with little to no money down? Can I leverage my credit to obtain a property? This will be my primary residence but I plan to turn it into a rental in the future. I live in Hawaii and this is my first time buying properties. by oracle453 from Honolulu, Hawaii. Jan 17th 2022
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,852 contributions
Your standard owner occupied conventional home loan starts at just 3% down payment for loans under $647,200 in most of the country, and $970,800 in high cost areas like Hawaii. There may be other options for you too, like down payment assistance. Talk to a local mortgage broker for more information. I lend in MN WI IA SD ND. Find me at Mortgage-Rochester.net - Cambria Mortgage, NMLS 274132
Lance Owens (Lance Owens)
#3 ranked lender in Hawaii - 18 contributions
Checking in with what island you are on? It looks like Honolulu. Joe gave a great answer below, I just wanted to add a couple of things, we have a lot of condotels in areas which change things up, and if you are on the big island you have lava zones to contend with.
Alan Van Zee (alan@hawaiimortgage.net)
#32 ranked lender in Hawaii - 19 contributions
There are 100% financing options available for condos on Oahu. Part of our pre-approval process is to match your specific scenario with the best loan program to meet those needs. Please reach out to me to get more information. 808-988-6622 x 122.
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