Did You Know You Can Buy a Home With No Money Down?
Contrary to popular belief, you don’t need to put down 20% to buy a home.
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Do you still need a 20% down payment to buy a home? We still get asked this question a lot by homebuyers, and the answer is no. In fact, you can buy a home with no money down. The Illinois Housing Development Authority offers several programs that allow you to buy a home with little-to-no money down, and there are other options you can pursue as well. For example, if you purchase a HUD-foreclosed home, you can do so with just $100 down. You can also borrow against your 401(k). In any case, remember that you don’t necessarily have to go into your own pocket if you’re thinking of buying a home soon. If you’d like to know more about your down payment options or you’d like to get started on your home buying journey, don’t hesitate to reach out to me. I’d love to help you.