-
Step 1
Roll the down payment into the purchase price. This is an option that some sellers and lenders now allow. This choice will cause your payments to be higher than if you put some money down, but if you intend to sell the property quickly, this won't have much effect on your pocketbook.
-
Step 2
Negotiate a separate installment plan for the down payment. Sometimes the seller will allow you to pay the down payment on a monthly basis. This will not affect the purchase price.
-
Step 3
Work out a trade. It's possible to trade in-kind services, such as mechanic work or carpentry, for the down payment price depending on your areas of expertise. You can also trade possessions such as a vehicle for the down payment cost.
-
Step 4
Get the seller to transfer the existing mortgage to you. This is a common occurrence in foreclosures where the homeowner is eager to sell and is willing to work with the buyer. You can do the deal as an assignment of contract and efficiently close the sale.
-
Step 5
Talk to your bank. Many lending institutions offer programs that allow buyers to put little to no money down on real estate purchases.
