Local Mortgage Experts

Finding a great home loan involves careful consideration of your needs, finances and history. We are here to guide you.

How to Buy A Home With a Loan or Mortgage

Out of all the possible heartbreaks that you can ever experience, the most painful kind doesn’t have anything to do with ending your first relationship or your home team losing a game they could’ve won. It’s when you find your dream house but you don’t have the money to buy it. Whether it’s small or big, gated or open, located in a convenient area or an isolated one, the biggest obstacle that you can possibly face when trying to buy a home is not having enough money to pay the down payment at closing. Hence, you need to think of whether you want to go for a loan or mortgage or not?

Ways to own a home with barely any money

Although desperation might kick in, making you think that living on ramen noodles for the next 30 years to buy your dream house would be a good idea, there’s no need for you to pull stunts like that. You can own your own home as long as you follow these tips:

Check if you’re eligible for a VA loan

Do you fall under any of these categories?:

  • Are you an active duty service member?
  • Are you recognized as a veteran of your country’s military? 
  • Is anyone in your immediate family a veteran?

If any of the above applies to you, then you’re in luck because you’re definitely eligible for a VA home loan that the Department of Veteran Affairs supports. It gives qualified buyers chances to own a home with barely any closing costs and no down payment. Through the VA loan program, applicants don’t have to face strict down payment requirements and can shell out what they can afford at most, nor will they ever have to pay for mortgage insurance.

Ask your local provider about an FHA loan

One way to purchase your dream home with close to no money out of pocket is to apply for an FHA loan, especially because it allows buyers like yourself to shell out a large amount of cash by allowing them to put down as little as 3.5 percent down payment. Typically, FHA loans are granted through a qualified non-profit, government agency, or in the form of a financial gift from a family member or a friend. Because they are bound by less restrictions and have lower down payment requirements, FHA loans can make it much easier for every family to have a home of their own.

See if your city qualifies for a USDA loan

If your town has certain “rural” characteristics, chances are that you’ll be able to qualify for USDA’s rural development loan. For the sake of development and growth, the government is sponsoring more ways to help urbanize different parts of the country. Should your prospective property qualify for a USDA loan, then you can buy home with zero down payment required.

Apply for a homebuyer assistance program

Should this be your first time to buy a home, then great news: you’re eligible for the homebuyer assistance program! The homebuyer assistance programs allow aspiring homeowners guidance through the home purchasing process. Above all, without the risk of being ripped off. Also, while ensuring that you get a good price on your home’s downpayment. 

Aceltis Group is a professional mortgage company in New Jersey. We can help you with all of your loan or mortgage needs. Contact us today and see what we can do for you.


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Estimated Monthly Payment
$2,385