No Down Payment or Low Down Payment

[ghoeyw...@yahoo.com]

Imagine this, you and your spouse find the perfect house for your
little family. Its a few minutes from your work place, near a good
school, and located in a good community. Unfortunately, ethough you
can pay for the monthly mortgage payments, you just don't have enough
cash on hand to pay for the requisite 20% down payment. What should
you do?
Do you scrounge around until you can raise enough to cover the down
payment cost? Do you let it go? Or do you try to find a way to get the
house without having to shell out a large sum of cash as down payment?
If you really want the house, and feel that you and your partner make
a good enough living to pay the mortgage - then go for the latter
option.
Today, there are financial institutions (both private and government
funded) who can help you purchase a home even if you don't have enough
to cover the initial down payment requirement. These lenders can
shoulder 95% - 100% of the total property cost (meaning, you either
give 5% down payment or none at all) - a sweet deal for th financially
capable yet cash-strapped (at the moment) home buyer....

http://groups.google.com/group/szdrealestatel