Sabal Homes’ Open House at Bennett’s Bluff. WHAT: James Island’s Bennett Bluff neighborhood unveils its first model home at weekend celebration.
Are no money down deals for real estate happening in 2019?
I dont know about houses but I do know about cars and you should NEVER, EVER put “no money down”. Why? Because it isnt a person who looks at your loan application, it is a computer. The computer looks at a variety of things, to which it assigns a “value”. It adds up everything on your application (including your credit score) and then spits out a rate. Putting a “ZERO” in the down payment window gets you no credit for that field. I have seen $100 be the difference between an approval and a decline on an auto application and the same applies to a house. Put SOMETHING in that window, even if you think it is insignificant. It could tip the scale in favor of a better rate for you.
Plus, now is not the best time if you are investing, the market is very high. If you are looking to own, and you plan to stay long term then buying is still probably better than renting but be prepared for the market to correct and to have “negative equity” for awhile. What matters is, you arent throwing money away on rent.
(I am not a Real Estate agent or Financial Adviser but my family does own a Real Estate agency and I read about the market a lot, so while I am not licensed to give advice, I feel I am slightly more informed than the average person.)