How Do You Buy Foreclosed Properties With No Downpayment?
Buying a foreclosure is an attractive option for real estate investors, first-time home buyers and anyone looking to purchase a home below market value. Buying foreclosures is still a competitive market so getting a home at a ridiculously low price is rare. Some lenders and government agencies offer financing with zero down payment to help sell foreclosures faster. Buying a Bank-Owned Foreclose Step 1 Find bank-owned foreclosures by contacting a real estate agent who can check the MLS (Multiple Listing Service) and show you properties listed as foreclosures. Step 2 Research zero-down financing options with lenders to buy properties. VA loans are available to veterans with no money down. FHA loans are another source of no-money-down loans. Lenders will work with you to determine the best loan to fit your individual credit situation. Step 3 Become pre-approved for a zero-down-payment loan for the foreclosed property. This includes verifying your income, credit score and employment with t
