Get A Mortgage In Indianapolis With No Down Payment

Get A Mortgage In Indianapolis With No Down Payment

Times are tough. The economy isn’t doing well, and as a result, many people looking to buy a home don’t have a lot of money for a huge down payment. Fortunately, there’s hope. Many banks are now offering Indianapolis mortgages with no down payment, or a very low down payment.

Not everyone is going to be eligible for these programs though. If you’ve got good credit, but no savings, chances are you won’t have a lot of trouble finding a Indianapolis mortgage that suits your needs. If, on the other hand, your credit isn’t great, you’re going to have a little more difficulty in finding a mortgage with either no down payment, or a low down payment.

If your credit is OK, just go to the bank, and ask about mortgage options with low down payments. They’ll be happy to give you plenty of information on the various types of mortgages they offer.

Be aware that by skipping the down payment, you’re going to be paying the house off longer, and as such, paying more interest over time.

If your credit isn’t great, there’s still hope. Talk to your Indianapolis real estate agent, and find out if there are any special programs available in your area that you might qualify for. For example, there are a number of programs for veterans that offer mortgages with no down payment.

Don’t underestimate your real estate agent’s usefulness here. They want you to buy a home, and they’ll give you every bit of advice they can to make that happen. If there’s a program in the Indianapolis area that you’re eligible for, they probably know about it.

It’s not easy to find a no down payment Indianapolis mortgage, but with a little effort, you may find one if you need it.