Buy Your Ulster County Home with Zero Cash Down
Many people believe that if they do not have a sizeable deposit with which to buy a home then they have absolutely no chance of being approved for a home loan of any sort. Although this is often the case, there are ways and means to get around it and one of them is the Zero Cash Down Payment Program. Whether you are a first time buyer or have previously owned a home and are now renting, you can break into the home market with no down payment at all if you take this opportunity.
There are a Few Conditions
It should be noted that the Zero Cash Down Payment Program in Ulster County does come with a few conditions that you have to meet in order to qualify for it. In fact, there are actually four different conditions and you must meet every single one. The first is having an excellent credit history, meaning that you pay your bills on time every month and have absolutely no bad debts on your recent credit history. You can check this by getting a credit report. You also need to have very few, if any, current liabilities, such as car loans, credit cards or other loans. Furthermore, you must disclose them all because withholding information could potentially invalidate your application.
Steady Employment is Vital
In addition to the above two points, you must also have 3 years of employment stability on your employment record and be able to offer proof of it. This also applies to self-employed people, who must provide financial records. Finally, and most importantly, you must be able to meet larger mortgage payments than you would if you had a down payment to offer. Although there are no guarantees regarding how much extra you will have to pay, you should bear in mind that you will be required to meet the payments specified. If you can meet these criteria then you will be able to purchase our own property under this scheme.
Benefits of the Zero Down Program
Providing that you can check all of these boxes, you can tap into a huge range of benefits under the Zero Cash Down Payment Program. The most obvious one is the fact that you do not need to save for years before being able to afford your own home. Instead, you can enter the home market sooner rather than later. This is a major bonus if you see the home of your dreams and think that you may not be able to afford it. You can under this scheme. You need not let the house of your dreams slip through your fingers just because you have no deposit. Furthermore, the Zero Cash Down Payment Program also has credibility because it is an approved bank program, meaning that you can access advice and knowledge from mortgage experts. You are not left n the dark but can instead access everything you need.
As you can see, the Zero Cash Down Payment Program offers so many benefits and so many advantages for you if you can fulfil the criteria to qualify in the first place. If you think you may qualify and have no down payment then investigate the possibility further because you could be on the property ladder before you know it.
Tips for Ulster County Home Buyers
If at any time you have questions about buying real estate in Ulster County or the surrounding area, please don’t hesitate to contact Dylan Taft, Principal Broker/Owner, Taft Street Realty, Inc. - 845.687.9292 office or 845.380.3394 mobile.