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756 Credit Score, can I get a no money down home loan?

I'm looking at a home worth 210k, and I have a great job, but right now finances are tight. Would I be able to get a no money down loan with my 756 credit, or would it be better to save up for 6 months and put down 5%? by james._637_829 from Little Rock, Arkansas. Dec 12th 2011 Reply


Walt Terry (ARMortgage)
#6 ranked lender in Arkansas - 11 contributions

Yes you can. There are a couple of options available. I am here in Little Rock and would like to discuss more with you. You can reach me at 501-225-5626Conan WattersPrimary Residential Mortgage

Dec 12th 2011
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

Ok.. so there are several options available to you.. If you have ever served in the military, you might have VA benefits which would allow you to purchase at 100%. USDA also has a program where you can purchase a home in a "Pre Defined" area with 100% financing available. There also might be grants and down payment assistance programs available in your area, as well as HUD homes which only require $100 down in certain areas. Best advice is to contact a local mortgage broker, not a bank and apply with them. They are up to date on the most current lending programs and have a variety of lenders they deal with.. they can find you the right lender based on your particular scenario.. WilliamAcres.com

Dec 12th 2011
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Brian French (bfrench)
#11 ranked lender in Arkansas - 52 contributions

Good afternoon - you can if you have been in the military or are looking at a home in a USDA rural housing zone.You can contact me at bfrench@topflitefinancial.com or 501-276-6786.

Dec 12th 2011
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Jeff Cost (midwestlender)
#40 ranked lender in Ohio - 164 contributions

Although you can technically purchase a home with 100% financing if you qualify for USDA Loan or Va Loan you admittedly said your finances are tight right now. It is in your best interest to hold off on purchasing a home till your financial situation improves. I will always put your best interest ahead of mine. ENG Lending, A Division of Bank of England, always puts your best interest first. We would appreciate the opportunity to serve you. Please visit us at www.cincinnatimortgagerate.net. You will soon find that we are so much more than a Mortgage Banker; we are a company that is dedicated to empowering our clients and referral partners. Don't forget to visit our Facebook Fanpage at http://www.facebook.com/pages/ENG-Lending-Cincinnati/171183536269710#!/pages/ENG-Lending-Cincinnati/171183536269710?sk=wall Or Call Anytime 513-403-6260

Dec 12th 2011
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Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 1,827 contributions

There are programs out there with little or no down payment. Veterans may qualify for a no down VA loan. Homes in certain areas designated by USDA are also eligible for no down loans. In additon HUD has many homes that are previous foreclosures that they offer with as little as $100 down. Here's the rub...Although your credit score is great, your own admission that finances are tight is a strong indicator that you need guidance BEFORE you make the jump. Instead of using one of the big banks, which in many cases tend to be order takers, find a local Mortgage Banker/Broker in your area to work with. A competant, licensed Mortgage Originator will help you determine what your loan eligibility is. They can also help you with a plan to make sure that when you do buy, you don't end up in over your head.

Dec 12th 2011
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