| Author |
Message
|
| Benjamin |
 Posted: Mon Feb 07, 2005 11:52 am Post subject: $0 Down |
 |
|
Administrator
|
| Are these $0 down home buying programs a scam, or do they really work? |
|
| Back to top |
|
 |
| AndrewZ |
| Posted: Tue Feb 08, 2005 5:48 pm Post subject: |
|
|
Investing Associate
|
| They look legitiment to me... dont know if I would personally try it but if I was a professional investor I might. |
|
| Back to top |
|
|
| jstep |
| Posted: Wed Feb 09, 2005 8:21 am Post subject: |
|
|
Investing Associate
|
well, your gonna end up paying alot more in interest,
+ most require a pretty hefty credit score |
|
| Back to top |
|
|
| richkid |
| Posted: Wed Feb 09, 2005 1:24 pm Post subject: |
|
|
Investing Associate
|
My brother is 21, and he has about 4 houses, all posivly geared, and has only had to put a deposit on one of them(the first one). He did this becasue, since the property market in australia went up so quicky, he just used the equity in his other properties to finance his new investments.....
i guess that is how no money down works... |
|
| Back to top |
|
|
| rlnlandal |
| Posted: Thu Feb 10, 2005 3:50 pm Post subject: |
|
|
Investing Associate
|
| When you put 0 % down, aren't you going to end up paying PMI, and more interest? What would be the benefit of putting ) down? |
|
| Back to top |
|
|
| trixiezzz |
| Posted: Sat Feb 12, 2005 5:28 am Post subject: |
|
|
Investing Manager
|
| It seems like a bad deal to me. First of all your payment will be higher and your interest will be higher. I personally would rather wait a few years and save up a down payment ~ that way you enjoy lower house notes for years to come. |
|
| Back to top |
|
|
| JoiseyFamily |
| Posted: Sat Feb 19, 2005 11:22 am Post subject: |
|
|
Investing Associate
|
| trixiezzz wrote: | | It seems like a bad deal to me. First of all your payment will be higher and your interest will be higher. I personally would rather wait a few years and save up a down payment ~ that way you enjoy lower house notes for years to come. |
It depends on the house market. With some housing pricese increasing, some people might not be able to afford to wait. |
|
| Back to top |
|
|
| momm2four |
| Posted: Sat Feb 19, 2005 2:18 pm Post subject: |
|
|
Investing Associate
|
| I guess I still submit to the school of thought, "If it sounds too good to be true..." |
|
| Back to top |
|
|
| Blueberry |
| Posted: Sat Feb 19, 2005 2:43 pm Post subject: |
|
|
Investing Associate
|
I am sure some are scams, but some are actually good deals if you shop around and do your homework. Our house was 0% down as we have a VA Loan.....  |
|
| Back to top |
|
|
| paula0000 |
| Posted: Sat Feb 19, 2005 2:58 pm Post subject: the zero down... |
|
|
Investing Manager
|
| The offers I've seen are legit. IF you absolutely don't have any $- I gues it's better in some cases than renting. However, obviously your monthly payment and interest will be huge. |
|
| Back to top |
|
|
|
|
 |
| mrsboz |
| Posted: Sat Feb 19, 2005 4:18 pm Post subject: |
|
|
Investing Sr. Associate
|
| I believe that you have to pay a higher interest rate if you put nothing down because it is sort of like being a higher risk. Your monthly payments would be higher. I would try to save up a payment. |
|
| Back to top |
|
|
| jelijo |
| Posted: Sat Feb 19, 2005 7:08 pm Post subject: |
|
|
New Poster
|
| We have a VA loan so we paid $0 down, got the going rate on 30-yr mortgages (6% back in 2002) and have no PMI because it is a VA loan. |
|
| Back to top |
|
|
| lmountford |
| Posted: Sun Feb 20, 2005 4:11 am Post subject: |
|
|
Investing Sr. Associate
|
| I guess its like everything else, it sounds appealing but there are disadvantages and you just balance it out for your specific situation. |
|
| Back to top |
|
|
| JoiseyFamily |
| Posted: Sun Feb 20, 2005 1:44 pm Post subject: |
|
|
Investing Associate
|
| My parents had a VA loan with a low down payment. But they still had PMI. |
|
| Back to top |
|
|
| jeepgirl30 |
| Posted: Sun Feb 20, 2005 1:57 pm Post subject: |
|
|
Investing Sr. Associate
|
| I wouldn't do it, seems you would pay so much more over the course of the loan |
|
| Back to top |
|
|
|
|
stock market game on the web. At eInvesting you compete for monthly cash prizes while you interact, make virtual dollars, purchase items, and trade in the realistic stock market simulator. We make investing FUN!
