How Much Money Do I Need when Buying a House in Woodbridge VA?
Really to only way to find out exactly how much money you need to purchase a home in Woodbridge VA is by applying with a local lender to find out how much money you need exactly. Ballpark anywhere from no money at all to 20 plus percent. So what are the chances I can purchase a home in or around Woodbridge VA without any money?
Again it really depends on your current financial situation and what type of loan you are qualifying for.
There is also the question if the home seller will help with closing cost assistance. This really depends on the market. If we are in a buyers market chances are much better that you are getting closing cost assistance compared to if it is a seller’s market. There are also options the lender can help with closing cost assistance. So there are really several options to not come out of pocket for any closing cost.
If you are active or retired military you probably have VA eligibility meaning you can get a Veterans loan that requires no down payment. So with no down payment and either seller assistance on closing cost or lender paid closing cost you can get into a home with no money out of pocket. The lender-assisted closing cost will be rolled into the rate. That means your rate would be slightly higher but have the closing cost priced in.
There are several grant programs for first time home buyers that will provide downpayment or closing cost assistance. Again the best way of finding out what program you are qualifying for you should apply with a lender. You can apply for a loan right here.
If you are interested in learning more about different options and how to get started you can contact me at 571-446-0002 you can also go to my website at www.ClaudiaSNelson.com
So yes you can purchase a home with almost no money out of pocket, in some cases you want to put down more money if you have it to keep your payments low. Also with some loans once you put down 20 percent you will not have to pay any Private Mortgage Insurance or PMI.
If you are looking to purchase a home you can start right here. How to start buying a house.
If you are just starting your home search process, or need advice, contact The Claudia S. Nelson Real Estate team with Keller Williams Realty in Woodbridge VA. We can help you with all your Real Estate needs. Whether you are looking to buy your first home or your second or third home we are here to assist. We can help you buy outright or buy and sell at the same time. We have been helping home buyers in and around the Woodbridge VA area for a long time and we would be delighted to assist you as well.If you are looking for your dream home you can find it right here:
Call Claudia S. Nelson
571-446-0002
