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Is it still possible to get 0 down payment financing for..

Posted on 9/27/12 at 2:41 pm
Posted by emcee422
Baton Rouge, LA
Member since Jul 2012
478 posts
Posted on 9/27/12 at 2:41 pm
first time home buyers in Louisiana? If so, how?
Posted by hawkeye007
Member since Feb 2010
5844 posts
Posted on 9/27/12 at 3:08 pm to
USDA or RD loans are the only way and you dont have to be a first time home owner for that program but there are income restrictions and location restrictions
Posted by lsu tigerdog
Baton Rouge
Member since Nov 2007
247 posts
Posted on 9/27/12 at 3:50 pm to
usda/rd loans are the best in the state.
you can finance 100% plus what to the table with no out of pocket expense, well the only expense you pay will be the cost of the appraisal.
if u make less than 74,500 and have a 640 score and above,debt ratio ok plus looking outside of BR and some parts of BR are eligible, you're good to go, call me 225.291.7901 x 224
Posted by notiger1997
Metairie
Member since May 2009
58103 posts
Posted on 9/27/12 at 4:56 pm to
I can't understand how any lending institution can be dumb enough to make a loan to someone who can't at least save up for a 5% down payment.
Posted by GFunk
Denham Springs
Member since Feb 2011
14966 posts
Posted on 9/27/12 at 5:43 pm to
quote:

notiger1997
quote:

I can't understand how any lending institution can be dumb enough to make a loan to someone who can't at least save up for a 5% down payment.


RD isn't Freddie Mac or Fannie Mae, bro. Do some research into the program before you crack on USDA. Good program run by sound principles in the UW process that are typically more stringent than normal.
Posted by notiger1997
Metairie
Member since May 2009
58103 posts
Posted on 9/27/12 at 6:10 pm to
I understand a little about the programs, but I just think on a matter of principle, people should be able to save a little money before taking out a home loan.

No big deal.
Posted by I Love Bama
Alabama
Member since Nov 2007
37694 posts
Posted on 9/27/12 at 6:44 pm to
Nobody going to mention the obvious?
Op- find a good deal one one and you won't put anything down.
Posted by VABuckeye
Naples, FL
Member since Dec 2007
35479 posts
Posted on 9/28/12 at 7:44 am to
If you are a veteran you can get a VA loan with no money down.
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