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No Money Down Loans: How Do They REALLY Work?
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Seeing a lot of advertisements for $0 down mortgages? Sounds like a dream, doesn’t it? Find a house you like, and with no money out of pocket, you can own your first home. Amazing! Unfortunately, the “zero-down” mortgage industry is painting a picture that isn’t all that true. Today, we’re breaking down what a “zero-down” home loan REALLY means and how it might cost you much more than you think.
With more first-time homebuyers struggling to buy, lenders have had to get creative. But, these “zero-down” home loans are nothing new to the industry. That being said, the push for more buyers to use them has steadily increased. Are these loans simply a way to help struggling homebuyers, or are they dangerous for those not financially fit enough to afford even a small down payment? We’re breaking it down in today’s Mortgage Monday!
00:00 Zero Down Mortgages?
01:28 The Danger of $0 Down Loans
03:08 They’re Taking Your Equity!
04:54 Can You Use It for Rentals?
05:51 Another Housing Crash?
07:41 Is It Worth It?
08:09 See Christian and David LIVE!
