I am a first time home buyer, Can I buy a house with no money down?

YES you should be able to purchase a Home with NO money down...Contact us with any questions...RonMoney@RonWohlfarth.comwww.RonWohlfarth.com

Yes and No.. if your VA eligible, then yes... if the home you're looking at is within the USDA defined area, then yes... If you choose a home that's owned by HUD, and they are offering $100 down, then just $100 down... Also, there might be some down payment assistance programs where the down payment would be either gifted to you or will be loaned to you under a "Silent Second"... not every lender allows these types of DPA programs so you need to check around.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Veterans and individuals looking to buy in areas designated for USDA loans can obtain 100% financing. Look to a local Mortgage Banker/Broker, rather than one of the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. We have access to loan products of MANY lenders, not just those of ONE bank, and can properly guide you. But more importantly, we are trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

The only 100% financing options are for VA and USDA eligible buyers. If you are not an eligible veteran and do not plan on buying a home inside a USDA eligible zone then your next best option is an FHA loan where you can get in for as little as 3.5% down.

Yes there is a zero down option in Fayette County, Ky. Joel Lobb (NMLS#57916)Senior Loan Officer502-905-3708 cell502-813-2795 faxjlobb@keyfinllc.comKey Financial Mortgage Co. (NMLS #1800)*107 South Hurstbourne Parkway*Louisville, KY 40222*http://mylouisvillekentuckymortgage.com

YES you should be able to purchase a Home with NO money down...Contact us with any questions...Ron...Money@RonWohlfarth.com...www.RonWohlfarth.com

Other than VA and USDA/Rural Development loans the only other options for "no money down" financing are generally either State Housing Finance agency loans or local downpayment assistance programs - assuming you qualify for them. It is also possible to purchase a HUD/FHA owned foreclosure property with as little as $100 downpayment - but they generally require you to provide a $1000 earnest money contract. Normally even with little or no downpayment programs you will need to provide an earnest money deposit ($500-1000 in most areas), pay out of pocket for a home inspection - if you want one, which is highly recommended, and generally cost $200 and up depending on the area and inspector. Normally the inspector is paid at the time they go to the house. Also, most lenders will collect some money from you to at least cover the cost of the appraisal ($350-400 minimum). So, I caution my customers to expect to pay $1000-1200 out of pocket before they get to the closing where they potentially can get a refund of some of those funds. - Also, you may need 2 months reserves (2x what the monthly payment will be after you close on the home) in addition to any money you pay out of pocket or for the downpayment.

PS> You can check out homes for sale using the HUD $100 downpayment program at www.hudhomestore.com

VA or USDA

Actually you have three possible options. 1) Rural Housing if you buying outside Lexington in an eligible county. 2) VA loan if you are eligible through the Reserves or Active duty 3) Kentucky Housing has a Down Payment Assistance (DAP) program that will lend you up to $6000 (in a few cases $10,000) for down payment and closing costs.If you need additional information I would be glad to provide it. I'm based in Lexington.Wayne Thompson, CMBNMLS# 60133Walden Mortgage Group3609 Walden DriveLexington, KY 40517(859) 797-0895wayne@waynethompson.com