Question:

Hello John, I sold my first home and am now renting a home. I'm considering purchasing another home. My question is, is it possible for me to purchase a home with 0% or 5% down. Or because I'm no longer a first time home buyer do I need a minimum of 10% down? Thanks, Mark

Answer:

It doesn't matter if you are buying your first home or your tenth home, 5% down payment is available to anyone on an owner occupied purchase. The rules for 0% down, however, may require you to be a first time buyer and have very good employment and extremely good credit to qualify. John Lozinski 613-721-0010

Answered By: John Lozinski

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