How to buy a house without financing it?
I want to buy a 70,000 house. I dont have anything to finance it with. How much of a downpayment would i need to buy a house and have payments and insurance included down to $ 400 a month?
Finance best answer:
Answer by Use Your Noodle
You would need at least 3.5% down for an FHA loan and 20% for a conventional loan.
Not sure what you mean *I don't have anything to finance it with*. If you mean down payment, you better start saving. The days of 0 down are gone.
Finance
Wayne Mayor Abdul Haidous, Andy Schor, and Sterling Heights Mayor Richard Nottee Testify at Senate Finance Committee Hearing Photo by Michigan Municipal League
Image by Michigan Municipal League (MML)
Mayor Abdul Haidous of the city of Wayne and Sterling Heights Mayor Richard Notte were in Lansing on Thursday, with Michigan Municipal League staffer Andy Schor, to testify at the Senate Finance Committee's first hearing on SB 34, which would eliminate the personal property tax. Read the Feb. 3rd Action Alert (http://www.mml.org/advocacy/alerts_advisories/2011_02_4_action.html) which explains the League's position on the bill, and the steps local leaders are taking to make sure committee members understand the devastating impact this would have on local public services should it be enacted without a replacement for the revenues to local communities. For more about the League and what we do go to mml.org.
Orignal From: How to buy a house without financing it? and Wayne Mayor Abdul Haidous, Andy Schor, and Sterling Heights Mayor Richard Nottee Testify at Senate Finance Committee Hearing Photo by Michigan Municipal League
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