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Can I really buy a property with no money down? |
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Yes, it is possible to buy a property with no money down. Usually this is done through using a mortgage broker who will get you a first and second mortgage. The 2 mortgages can be a combination of financing arrangements, such as 80%, 20% or 90% 10%. Usually the second mortgage has a higher interest rate then the first. It is easier to get 100% financing on residential properties than on commercial properties. So purchasing single family homes with no money down is possible, however purchasing a 30 unit apartment building with no money down is pretty unlikely.
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