Florida Home Financing Can I Buy Florida Real Estate With No Money Down
We have received many times the question if one canFlorida Home Financing Can I Buy Florida Real Estate With No Money Down. The answer is simple -” Yes.” Thousands of buyers have bought Florida homes with no money down through available loan programs through the VA loan and USDA financing. These loan have conditions with certain requirements one must qualify for.
In rare cases, it would be possible to get a Seller Financed Property but in my experience, I have never seen an owner financing with zero down.
But if you mean, can you buy real estate at a discount price of 20% or 25% with no cash or no credit, then the answer is probably not. Why “probably” instead of “absolutely” not? Because in a marketplace with thousands of real estate transactions each year, somebody somewhere has made a deal with no money down and no credit with a private mortgage money.
But it is also true that somebody somewhere was hit by lightening.
The problem is that the term “no money down” is sometimes in the worst cases a code expression for a deal where someone without cash or credit wishes to buy a property from someone who is needy, unsophisticated, desperate, in mourning, etc.
Under the guide of “helping” the owner, buyers offer to purchase property those properties at 30-40% discount price, or more, and with subordination and substitution clauses. Of course, if purchasers really meant to be helpful, they would surely pay full market values.
Let’s be clear. If no-money-down schemes are so wonderful, why do folks who engage in such investments have a need for “partners” with cash?