Q: I’m a first-time homebuyer and I don’t have money for a down payment of $8,000. I have only $2,000. (I pay $1,570 for rent right now.) Prices are so low right now that I really would love to buy a house. How can I get into a house without putting so much down for the closing costs?

A: There are certainly strategies for finding money to bolster your down payment and accelerate your ability to buy a home, and we’ll get there in a minute. First, though, I want to caution you about rushing into homeownership while your finances might be immature for the responsibility.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top