? Re: Down Payments.
I own a small, modest home, my credit score is 720. And yes I do owe on some credit cards. I would like to buy another home however, I don't want to get a loan on the home I own for a down payment on a new home, and I don't have much of a down payment for a new home. I would like to either rent my home out or CFD. I have seen people get 100% financing how do they do that? I'm sure the intrest rate is lager but how by how much? Is thre a better way for me to go?
Thanks in advance
with 720 scores im sure you shouldnt have any problem finding 100%
You should be ok. Check with 2 or 3 different brokers in your area, don't let them pull credit, and compare what they find . After that , go with the one that gives you the best deal.
Prosperous investing,
td
Thanks for the info and taking the time to answer my question.
you might consider just pulling enough cash from home equity to make a 20% down payment on a new place it would be a lot cheaper in the long run as far as rates are conscerned
John