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How can I get a loan as a first time home buyer?
Hello, lord knows how many websites I’m searching to get some answer. Im interested in buying an apartment in westchester county New York, I do not have a down payment and I work a partime job. Soon enough after I buy I would like to get a lease and have someone rent it. Unfortunately I am a single mother and no not have the extra financial assistance. I know miracles do not happen overnight but if you can point me in the right direction to doing so that would be great. Thank you have a great day
Asked By Heavyn Morales | New York, NY | 64 views | Home Loans | Updated 1 month ago
Answers(2)
Josephine & Raj Sharma
Legacy Homes Realty
Buying a home with no down payment and part-time income is challenging, but it’s not impossible if you take the right steps and set realistic expectations. You should contact a local real estate agent in your area to see if they have special programs for your county and connect you to their trusted lender to get you pre-approved. If you have someone who can co-sign with you then this could help you with your approval as well.
- 1 week ago
Helpful (2)
Unhelpful (0)
Cassidy McWherter
Orlando's Finest
First, I want to say — you’re not alone. Many first-time buyers start exactly where you are.
Buying without a down payment is challenging, but there are programs that may help, including:
• FHA loans (lower down payment requirements)
• First-time buyer assistance programs
• Down payment assistance grants
• State or county-specific programs in New York
However, buying with no savings at all can be difficult, especially in Westchester County where prices are higher. You’ll likely need:
• Stable income history
• Acceptable credit score
• Some savings for closing costs
If your long-term goal is to purchase and later rent it out, we’d also want to review financing guidelines carefully, since many first-time buyer programs require owner occupancy.
The best first step would be speaking with a local lender who can evaluate your income and credit and outline realistic options. From there, you can build a clear action plan — even if it takes time.
If you'd like help u
Buying without a down payment is challenging, but there are programs that may help, including:
• FHA loans (lower down payment requirements)
• First-time buyer assistance programs
• Down payment assistance grants
• State or county-specific programs in New York
However, buying with no savings at all can be difficult, especially in Westchester County where prices are higher. You’ll likely need:
• Stable income history
• Acceptable credit score
• Some savings for closing costs
If your long-term goal is to purchase and later rent it out, we’d also want to review financing guidelines carefully, since many first-time buyer programs require owner occupancy.
The best first step would be speaking with a local lender who can evaluate your income and credit and outline realistic options. From there, you can build a clear action plan — even if it takes time.
If you'd like help u
- 1 week ago
- Helpful (0)
- Unhelpful (0)
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