No money down is not recommended

Buying a home with
"no money down"

No money down is not recommended by North Texas Homes.com, because if you can't put money down, your not ready to buy a home.

More than a few books written by real estate “gurus” claim that not only can you buy property without putting money down, but that you can also make piles of money doing so.

A generation ago, this way of thinking was popularized by Robert Allen in his book Nothing Down. Allen says that the key to buying property with no money down is to find a seller who “will do anything to get rid of his property.”

Why would someone be that desperate? Well, perhaps the person is in financial trouble because of a job loss, an overextension of credit, or a major illness.

Perhaps, back when more people used to live in smaller, tight-knit communities where everyone supported one another, this type of vulture capitalism may have not flourished.

How do you find such downtrodden souls who are just waiting for you to take advantage of them? According to Allen’s estimates, 10 percent of the sellers in the real estate market are in this position. Simply call people who have property listed for sale in the newspaper, or place ads yourself saying that you’ll buy in a hurry.

Finding cheap homes without putting money down isn’t easy to do. If you can find such a desperate seller, be aware that the property my have major flaws. If the property were a good one, logic dictates that the seller wouldn’t have to sell under such lousy terms.

If you want to hunt around and sift through perhaps hundreds of properties to find a good one with seller financing at no money down, be our guest. If you are not looking to live in the home, but more interested in investing, then you might consider flipping houses.

However, we feel it’s better to look for good properties and a lender that offers low down payment financing. In the mean time we also recommend to start saving for a healthy down payment so you can qualify for a better loan.

If you are looking to buy or sell a home in North Texas and need help deciding what type of loan is right for you, please take a moment to fill out the form below and you will be put in contact with a top notch RE/MAX real estate professional who can handle your real estate needs including referring you to a mortgage lender.

Home Buyer / Home Seller Form

Please note that all fields followed by an asterisk must be filled in.

First Name*
First Name*

Last Name*
Last Name*

E-mail Address*
E-mail Address*

Street Address*
Street Address*

Country*
Country*

Home Phone*
Home Phone*

Are you looking to buy or sell a home?

	A Buy
	B Sell

What town would you like to buy or sell a home in?

Price range of home you wish to sell or buy?

Number of Bedrooms of Home you want to sell or buy

Number of Bathrooms of Home you want to sell or buy

Does the home you want to sell or buy have a pool?

If you are buying a home, have you been pre-qualified by a lender?

Please enter the word that you see below.

If you have been considering the purchase of a new home, there are several distinctions between the DFW market and the national averages. Learn more about the DFW housing market at: DFW Housing Facts

Real Estate Guide - Answers to your real estate questions.

Much more than no money down discussed back at the Home Page

Buying a home with"no money down"

Buying a home with
"no money down"