Buying with Little or No Cash

Thought you needed substantial cash to buy a home? Not anymore! The Sullivan Team has helped many buyers enter the market with no money down and in many cases, no closing costs or prepaids – that’s correct – absolutely no cash. Whether you are a first-time homebuyer or moving up! What do you need to qualify?

• GOOD CREDIT
  No recent history of bad debt
  Consistent and timely payment of liabilities

• LIMITED LIABILITIES
  Keep debt to a minimum, i.e., car loans, credit card debt, revolving charges, installment loans etc. Your debt plays a factor in how much home you can buy and the level of payment you can afford. Payoff anything you can and cancel any cards you do not use. Remember, too much available credit is looked at negatively as well.

• CONSISTENT EMPLOYMENT & INCOME
  Proof of employment is required for the past three-year time frame. If you are self-employed you will be required to provide financial statements for the same period.

• A SKILLED NEGOTIATOR WORKING ON YOUR BEHALF
  Looking for the ‘right’ property and situation is key to achieving this goal. Many sellers are highly motivated and competing to attract buyers. A good negotiator can identify those situations and look for opportunity that benefits the buyer.

• A SKILLED AGENT WITH A STRONG FINANCIAL TEAM
  It is important to know that your real estate agent needs a strong financial alignment with brokers and lenders who can best tailor a loan program to meet your specific needs. Call The Sullivan Team today to better understand your qualifications!

• THIS IS NOT A ‘BANK’ SPONSORED PROGRAM
  This program is a Sullivan Team concept to help buyers enter the market without the long delay of saving cash to make the investment. Our buyers have qualified for Conventional and FHA loans with no money down! Buy a single-family residence or even a condominium! In the time it takes to save your down payment and closing costs, you could be building equity where you live and sometimes with a monthly mortgage payment less than your monthly rent!

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