No Down Payment House Loan
Im looking to buy a home and also combine my current car loan with it and have no down payment, can I?
I have a car loan for 15,000 and monthly payments of 500.00, But now I am interested in buying a home right now with the market how it is and homes being really cheap. I will not be able to afford closing costs or a down payment and I will not be able to afford having the car payment and house payment at the same time either. I was hoping to find a way to combine the auto loan and the home loan because I need to keep my car for obvious reasons. Does anyone have any idea if this is possible and where I would go to do this because when I talked to my credit union they pretty much laughed in my face. I am a first time home buyer, make about 30,000 a year and am 21 years old with a pretty good credit score, kinda low but still considered “good” Any help on this subject would be great thanks!
They will not put a car and a house together. Anyway why would you want to pay for a car for 30 years. Also you could not sell the car until the loan was paid off and 30 years is a long time to keep a car.
Not a good idea.
Maybe trade the car and get a cheaper one.
You r closing cost on a home loan include insurance. No getting around insurance. You possibly could get around the down payment being a first time home buyer but not some closing cost.
Good luck…