Keller WIlliams Luxury Logo
Home » Buy A Home No Money Down

Buy A Home No Money Down

by | Jun 14, 2008 | Blog | 0 comments

Here is some hope for those people who would still love to own a home, but do not have the down payment. Read on from the Washington Post:
Despite banks’ reactions to the foreclosure crisis, it’s still possible for a potential homeowner to buy with no money down.

Some options come from Fannie Mae and Freddie Mac and are aimed at making homeownership possible for buyers with limited credit and savings, including teachers, firefighters, and members of the military. Some of the loan programs, which are available through cooperating lenders, even allow 105 percent financing to cover closing costs.

Freddie Mac says such loans have lower delinquency rates because borrowers are required to complete homeownership education.

Earlier this year, Fannie Mae experimented with a policy that demanded a minimum of 10 percent down in markets where home prices were declining.

In May, it modified the policy to allow buyers in declining markets to borrow up to 97 percent of the purchase price with a conventional mortgage and meet any other need with a second mortgage that that lenders are required to forgive after five years of successful payments.

Recent Posts

So, You Want a Place on the Ocean?!

So, You Want a Place on the Ocean?!

By Dan Polimino Of course you do! I was meeting with a client at a local eatery and he said to me, “It’s always been my dream to have a place in Hawai`i right on the ocean.” And why not? I mean, it’s one of the reasons why you would move to Hawai`i or own a second...

read more
September 2025 Featured Restaurant & Activity

September 2025 Featured Restaurant & Activity

Featured Activity: Atlantis Adventures Submarine Tour Discover the magic of Kona’s undersea world while diving over 100 feet beneath the sea in an eco-friendly, 48-passenger submarine. Learn about Kona’s marine mysteries in the air-conditioned comfort of this Coast...

read more
July 2025 Sales Statistics for the Big Island West Coast

July 2025 Sales Statistics for the Big Island West Coast

July real estate activity continued to be slow in the resorts along the Kona-Kohala Coast, with just a single home sale in Kūki`o and five condominium sales – two each in Mauna Lani Resort and Waikoloa Beach Resort and one at Kohanaiki. On the upside, these properties...

read more
June Market Statistics for the Kohala Coast

June Market Statistics for the Kohala Coast

Real estate activity along the Kona-Kohala Coast was quiet in June, with only a few condominium sales and no single-family home sales within the resort areas. The exception was Mauna Lani Resort, which was the bright spot with six condominium closings. Mauna Kea...

read more
Featured Big Island Restaurant & Activity for August

Featured Big Island Restaurant & Activity for August

Featured Activity: A Day Trip to the East Side – Explore ʻImiloa Astronomy Center Located on the University of Hawaiʻi-Hilo campus, ʻImiloa Astronomy Center is a must-visit destination for anyone curious about the stars, Hawaiian culture, and the art ofnavigation....

read more

Recent Listings

Call Now