Question: How can I buy real estate without much cash? I don't have a whole lot of cash to use as a down payment. How can I stop renting and buy a place of my own in the near future? Is this even possible without signing on for a ridiculous interest rate?

Answer: Slim Jim,\nYou can get 100% financing and typically have the seller contribute up to 3% of the selling price of the house to your closing costs.  The only requirement would be that you'd have to have $500 of your own money into the transaction.\n\nThe interest rates are very comparable to 80% or less financing; there is a .5% charge 97% & 100% financing (usually an 1/8 or 1/4 more in interest rate).\n\nThe tough part at the high LTV's can be mortgage insurance.\n\nThe ways around this is:\n1. VA programs and paying the funding fee (good deal)\n2. 80/20 loans, usually a savings in payments over MI\n3. Community Mortgage programs -- This is a great secret that most of us lenders have available.  If you take a home buying/home owning course I have programs that I can offer that have reduced MI.  The savings can be big.\n\nSearch for My Community Mortgage programs, or if in FL feel free to email me, and I'll work with you.\n\nHope this helps,\nChris
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