No-money-down home buying

In this difficult economy where stock valuations are questionable, one of the best investments is real estate.

But for many potential buyers, the problem is coming up with a down payment to make this all-important purchase. This should not be the case. It is possible to buy a home with nothing down, meaning no down payment.

There are several methods by which eligible home buyers can minimize or even eliminate down payments. They include:

VA loans
Owner financing
Lease/purchase
House trading
Job-related federal programs
State and local government programs
VA loans

The method of purchasing a home with no down payment that most people are familiar with is through the Department of Veterans Affairs, or VA. This benefit is available to active and retired members of the military service, veterans, POW's and MIA's and their unmarried widows. All branches of the service including the Coast Guard are eligible. Also members of Selected Reserves or National Guard who have completed six years may be eligible along with many with WW II service from the merchant marines, military academies and others pulled into service for the war effort.
Many older veterans may recall a time when they were entitled to use this benefit only once in their lifetime. This was changed in 1989. Now, the only existing stipulation is that an eligible person may use this benefit on only one house at a time.

As with all VA loans, the house must be used as a primary residence. It may not be a rental home or second/vacation home. There is no maximum home loan amount.

Nothing-down VA foreclosures available to everyone
What many people do not know is that you do not have to be a veteran to purchase a VA foreclosure with nothing down. VA foreclosures are available to the general public. Some require nothing down or just a fee of $500. Although the homes are sold from the VA, purchasers must obtain conventional or FHA loans unless they are veterans or active military.

Article continued at http://www.bankrate.com/brm/news/mtg/20020724a.asp?prodtype=m

Additional Second Mortgage Resources:

Faxless payday loans - Paydayloans500.com is your online source for no fax $500 payday loans overnight.

Faxless Cash Advance - Get a cash advance with no faxing today

Payday Loans - Nationwide payday loans up to $500 overnight.