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Updated about 9 years ago on . Most recent reply

User Stats

21
Posts
1
Votes
Jimmy Kiefer
  • Investor
  • Mankato, MN
1
Votes |
21
Posts

Can I get a zero down 30yr fixed mortgage?

Jimmy Kiefer
  • Investor
  • Mankato, MN
Posted

I am looking at purchasing an up and down duplex with a zero money down and am wondering if I will be able to find a lender that will provide a 30 year fixed mortgage. How realistic are my chances of getting this type of financing? Here are the details of my situation:

1) Currently own one property that will be paid off early 2017 but until then I will not have any cash.

2) Here is the analysis on the property I am looking at purchasing. Mortgage is calculated at 5% interest.

PurchaseDownLoanMortRentTaxInsUtilNi/moNi/yr
$110,000$0$110,000-$594$1,100-$124-$60$322$3,866
$110,000$0$110,000-$594$1,300-$124-$60$522$6,266
$110,000$0$110,000-$594$1,400-$124-$60$622

$7,466

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