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Claudia S. Nelson Realtor®

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Home Valuation

How much money do I need to purchase a home?

June 2, 2017 by Claudia Nelson

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Find out how much money you need to purchase a home:

How much money do I need to purchase a home?

Claudia S. Nelson 

571-446-0002

Woodbridge VA Homes for Sale by Price Range: 

Below 200K200K - 300K
300K - 400K400K - 500K
500K - 600KAbove 600K

Find out how much money you need exactly to buy a house in Woodbridge VA 

Let me be up front with you. The best way to find out exactly how much money you need to purchase a home in Woodbridge VA is by applying with a local lender. The lender can tell you based on your individual numbers how much money you need exactly. Ballpark anywhere from no money at all to 20 plus percent. So what are the chances I can purchase a home in or around Woodbridge VA without down payment?

Again it really depends on your current financial situation and what type of loan you are qualifying for, but the chances good that you can apply for any of the first time home buyer programs offer loans with no down payment or a very small down payment.

Closing Cost

There is also the question if the home seller will help with closing cost assistance. This really depends on the market. If we are in a buyers market chances are much better that you are getting closing cost assistance compared to if it is a seller’s market. There are also options the lender can help with closing cost assistance. So there are really several options to not come out of pocket for any closing cost.

VA Purchaser

If you are active or retired military you probably have VA eligibility meaning you can get a Veterans loan that requires no down payment. So with no down payment and either seller assistance on closing cost or lender paid closing cost you can get into a home with no money out of pocket. The lender-assisted closing cost will be rolled into the rate. That means your rate would be slightly higher but have the closing cost priced in.

First Time Home Buyers programs with no down payment

There are several grant programs for first time home buyers that will provide down payment or closing cost assistance. Again the best way of finding out what program you are qualifying for you should apply with a lender. You can apply for a loan right here.

If you are interested in learning more about different options and how to get started you can contact me at 571-446-0002 you can also go to my website at

www.ClaudiaSNelson.com

Apply for a loan

So yes you can purchase a home with almost no money out of pocket, in some cases you want to put down more money if you have it to keep your payments low. Also with some loans once you put down 20 percent you will not have to pay any Private Mortgage Insurance or PMI.
If you are looking to purchase a home you can start right here. How to start buying a house.

If you are just starting your home search process, or need advice, contact The Claudia S. Nelson Real Estate team with Keller Williams Realty in Woodbridge VA. We can help you with all your Real Estate needs. Whether you are looking to buy your first home or your second or third home we are here to assist. We can help you buy outright or buy and sell at the same time. We have been helping home buyers in and around the Woodbridge VA area for a long time and we would be delighted to assist you as well.If you are looking for your dream home you can find it right here:

Call Claudia S. Nelson

571-446-0002

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ClaudiaSNelson.com

 

 

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Claudia S. Nelson

1320 Central Park Blvd, Suite 200
Fredericksburg, VA 22401-5905

Mobile: (571) 446-0002
Office: (703) 665-3362
Claudia@VARealEstateExperts.com

Equal Housing Opportunity | Realtor

The statements and opinions contained in this advertisement are solely those of the individual author and do not necessarily reflect the positions or opinions of EXP WORLD HOLDINGS, INC. or its subsidiaries or affiliates (the “Company”). The Company does not assume any responsibility for, nor does it warrant the accuracy, completeness or quality of the information provided

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