Bozeman Real Estate: Buying With Zero Down

Not Enough Money For a Down Payment on Your Bozeman Real Estate?

Don’t give up. It may not be the problem you believe it to be. Below are five tips that may make owning your Bozeman home a reality:

 

Ask lenders and your Bozeman real estate agent about zero-down lending programs.

The USDA may have zero-down home mortgage loans available. Search for mortgages online or through your local mortgage brokers or your personal bank. Call banks and mortgage companies listed in the yellow pages and ask about options. Ask your Bozeman real estate agent for referrals to lending institutions.

Maintain a good credit rating.

Zero-down / No money down loans typically require a satisfactory credit history. Get a copy of your credit report and check for inaccuracies. Resolve any credit problems as soon as possible.

Talk to your county’s housing department about lending programs.

South-west and South-central Montana counties include, Broadwater, Gallatin, Park, Jefferson, Madison, Meagher, Wheatland, Sweetgrass, Stillwater. Regardless, there may be federal or locally-backed financing programs with a zero-down option in whatever county you live; find out!

Check with your employer about financial assistance.

In some fields, like teaching or law enforcement, professional organizations offer financial assistance for home purchases.

Ask your agent to discuss financing through the owners of the home you want to buy.

Are the present owners willing to carry the loan? Sometimes, if you commit to pay more than the asking price, or pay a higher interest rate, sellers carrying the loan won’t require a down payment. It does no harm to simply ask.


MONTANA HOME-BUYING INFORMATION