Buying With Zero Down - USDA Home Loans - Montana Counties Housing Departments

Not enough money for a down payment? Don’t give up. It may not be the problem you think. Here are five tips that might make owning your dream home a reality:

Ask lenders 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 real estate agent for referrals to lending institutions.

Maintain a good credit rating.
Zero-down loans typically require a satisfactory credit history. Get a copy of your credit report and check for inaccuracies. Resolve any problems as soon as possible.

Talk to your county’s housing department: Gallatin, Park, Jefferson, Madison, Meagher.
There may be federal or locally- backed financing programs with a zero-down option. Take advantage of these.

Check with your employer about financial assistance.
In some fields, like teaching or law enforcement, professional organizations offer financial assistance for home purchases.

Visit with the owners of the home you want to buy.
Are they 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.

Explanation of Mortgage Types   -   Explanation of Points   -   First-Time Buyers

All information contained herein is derived from sources deemed reliable, however, information is not guaranteed by Prudential Montana Real Estate, Managing Broker, Taunya Fagan or other Agents or Sellers. Offering is subject to error, omissions, prior sales, price change or withdrawal without notice and approval of purchase by Seller. We urge independent verification of each and every item submitted, to the satisfaction of any prospective purchaser. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. Equal Housing Opportunity.