Buying

How To Buy A Home Without A Down Payment

It can take many buyers several weeks, months or years to save enough money to be able to afford a house. Careful budgeting and spending can eventually pay off. Most homeowners take out mortgage loans that require a certain amount of money be paid upfront, although there are several ways to purchase a house and not make a down payment.

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What is Escrow?

An escrow is a common component of many home sales. It’s an agreement in which a third party (usually a title or escrow agent) retains a significant sum of money in an account until a home has been sold. The buyer will deposit money into the escrow account as a sign of good faith and to signify their intent in owning the home.

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What Is Earnest Money?

Buying a home in California can be expensive. You need to have enough money saved for a down payment, as well as future mortgage and utility payments. Closings costs, earnest money and other expenses may also be required for the transaction.

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