Zero down home financing is about getting rid of the obstacle of closing costs. You can trade in your rent payment for a house payment without paying thousands at closing. Before you start enjoying the benefits of home ownership, make sure you follow these tips to get approved for the best rates.
Check Your Credit Report
Annually checking your credit report is a good idea, especially if you are applying for new credit. Make sure that all your information is correct. If there are mistakes, get them fixed. Otherwise, you could be paying thousands in interest charges.
While looking at your accounts, keep your debt to a minimum. A high debt to income ratio can disqualify your for a zero down loan. Also make sure the debt you do have is spread over multiple accounts rather than maxing out one account.
Increase Your Cash Reserves
Cash reserves settle lenders nerves. So you might consider liquidating stocks or other assets when applying for a mortgage. At a minimum, lenders like to see at least two months worth of payments as liquid assets. You do have the option of reinvesting those funds after the loan has been completed.
Look For The Right...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
