Quote:
Originally Posted by Shannacore
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I know a couple of people who have purchased homes with no down payments, which blows my godamn mind.
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Those are called HUD homes, or HUD loans. They're generally for first time home buyers, and lower income buyers. While there usually is zero down payment, there are a ton of upfront costs as far as general fees and whatnot, you usually get some of it back though at the closing. The sucky thing about HUD homes is you usually dont get to pick what district you want your home to be in, and the qualified districts usually include slummy/ghetto-ish areas. It is possible to find a good HUD home in a good neighborhood, but you'll be searching quite a bit. Be picky IMO.. go with 15.