How to Buy Real Estate With No Money Down
PHOTOGRAPHY PROVIDED BY THOMAS JAMES HOMES
The most intimidating part of buying a home is the down payment. It’s this giant, insurmountable pile of cash that seems impossible to come up with. If you’re anything like the average American, you probably don’t have an extra $50,000 to $100,000 lying around (if you do, bravo! You’re doing something right). But we’ve got good news: you can still become a homeowner. That’s right, we found a life hack and we’re going to share it with you.
Merrill Lynch is offering two financing programs that require NO MONEY DOWN. Here’s what you need to know:
Instead of making a down payment on a property, you can pledge securities in conjunction with an eligible Bank of America loan.
The first program is called Mortgage 100. This is for your own personal loan.
The second program is called Parent Power, and it allows you to help a family member finance their loan without cosigning, paying gift taxes, or disrupting your investment strategy. Everybody wins!
By utilizing these programs, you could reduce your down payment (even to zero!) without having to pay mortgage insurance.
There are no additional fees or higher interest rates.
There may even be tax benefits depending on your financial situation.
Ready to find out more? Get in touch with us! Everyone deserves a break now and then. This could be yours, but only if you make the first move. Contact us to find out how you can take advantage of these programs!