Is there a market for credible loans with nothing down? Sure. Is a loan with no cash at closing a good choice for borrowers? That depends on your needs. For instance, someone with strong credit buying a home in a community where property values can reasonably be expected to rise over the long term might want to look at financing with no-money down.

But there are also questions to ask: If you have 100 percent financing on your home, are you able to get additional credit for other purposes? If you need to move, what happens if the proceeds from closing are less than the mortgage debt? How does the interest rate for a mortgage with 100 percent financing compare with other loans? Would you be better off on the basis of rates and terms with loan products that require 3 to 5 percent down? If you're VA qualified, aren't you already able to buy with nothing down? Can the loan be prepaid, in whole or in part, at anytime, and without penalty?

There's no single loan product that works for everyone, but it's always good to have additional financing options. For their part, consumers are best advised to shop around, look at different programs, and pre-qualify before you go house hunting.

The Common-Sense Mortgage

The latest edition of The Common-Sense Mortgage -- in its second printing since September -- is now available in bookstores online and off. In print for nearly 15 years and widely recognized as the standard consumer guide to real estate financing, it's described by syndicated columnist Robert Bruss as "an encyclopedic, detailed summary of just about everything real-estate investors, agents, lenders and borrowers want and need to know about mortgages."

"On my scale of one to 10," says Bruss, "this superb book rates a 10."

"This continues to be the most, lucid, comprehensive treatment of the subject on the market," says The Real Estate Professional. "If you want solid, reliable information about residential real estate financing, written in a thoughtful, convincing style, this is your source."

For additional information, press here.

Question Of The Week

Q We're interested in a home which has a particularly nice shop. Is it possible to bid on the property in such a way that we can buy the shop and it's equipment as well?

A Yes. A purchase offer typically includes a variety of terms and requirements, and as a purchaser you can include specialized clauses to perfect the deal. Then, if the offer is accepted, all terms within the offer are also accepted.

The catch is that another offer may be comparable financially but more attractive to the owners when the fine print is read. Or, the owners may remove the clause relating to the shop and effectively create a counter-offer. And, of course, the owners might just say "no" and not make a counter-offer.

If the equipment and materials in the shop are to be included, then a complete inventory of what stays should be part of the offer. See a broker or attorney for specifics.

Weekly Resource

Want the inside scope concerning real estate rules and regulations nationwide? You can't do better than visiting ARELLO -- the Association of License Law Officials -- and it's publications collection. ARELLO features such items as: