Updated about 10 years ago on . Most recent reply
Can I get a zero down 30yr fixed mortgage?
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.
| Purchase | Down | Loan | Mort | Rent | Tax | Ins | Util | Ni/mo | Ni/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 |