How do I buy a home with no money down with a fair credit?

i have a fair credit and i want to buy this investment property for about seven hundred dollars with no money down and save the cash i have for minor repairs.it is a 4 family rental property in the bx.

Negotiate.

$700? I bet you also have a bridge to sell too.

Go talk to a reputable realtor. he will point you toward a mortgage broker who will work for you. After you are approved, then look for your house. Buy and live happily ever after.

I've seen some ads where you can rent-to-buy. You rent the place and your rent money goes toward the purchase.

It is highly unlikely you can get this done. Investment property typically needs more down than an owner occupied single family dwelling. I have seen some 5% down commercial loans done, but never a no money down.

Maybe you are calling it the wrong thing. As an investment not a shot in hell.

You have to buy the property owner occupied. Ie meaning you will live in one of the 4 units. FHA, Fannie ect allows it. Its considered a 1-4 unit and the rates are the same.

You can use current leases to help with your income to purchase the property. To bring it up again it has to be owner occupied you have to have and empty spot to move into.

You can make an offer with with the seller paying Hart for your 3% down payment, Hart in turns pays it back. Your broker will know what this means. You can buy this without a penny from your pocket. But it has to be legit. Print this and read it to 5 mortgage brokers. If they say I dont know what he is talking about move on until somebody does.

Good Luck