Q: What do you think about these “no down payment” home study courses? I bought one and I have learned some things from it, like the fact that homeownership won’t happen overnight.

What I want to know is, can I buy a house this way?

A: I think you have to pay a lot of money for those courses and in my humble opinion, that’s money better spent on a down payment or closing costs.

By the way, you no longer need to have any cash to put down on a home. You can get approved for a loan at a reasonable interest rate even with no down payment.

Talk to your local lender about whether you qualify for zero down payment loans. They’re more readily available than you might imagine.

Published: Jul 16, 2004