How Can I Make This A "0" Down Deal
I prequalified for a loan. I got a gift for most of the down payment, now I need to come up with 5% down. How can I make this a no money down deal?
Thank You 
we need more info to give you answers. Lay out the deal.
Have the seller carry a note for the 5%, get a partner, steal it, etc.
When you have a seller carry the financing what is an avg. rate on that note?
Talk with friends and family. Credit cards. Auto loans. HELOC's.
The seller may agree to lend you the down payment in exchange for higher monthly payments or interest rates, increased security or collateral, or a ballon payment in the future.
I would shop around for a differnet mortgage company or broker. I was in the same situation as you and one broker told me that there was no way I could qualify for a loan at more than 95% LTV. I didn't believe this and went looking at other brokers out there and found a company that would loan me the funds at 100% LTV and this was at a lower rate than what the previous broker had me qualified for.
Shop around, you might be lucky to find a better lender out there. Hope you have enough time though, it can be a stressfull and time-consuming process.
To pay for closing costs, have the price of the house increased slightly and make the seller refund certain funds to you at closing.
Hope this helps.
JS.
Im pre approved for 142k with 10% down I got a gift for 5%. The home Im tryin to purchase is 136k. Is it possible to up the sale price in order to make this a "0" down deal?
Thank you all for your response's
Remember that the place will have to appraise for the inflated price. As long as it isn't too high then you shouldn't have a problem.
Instead of a refund for the closing cost just write it up in the contract that the seller will pay $XXX towards closing costs. same result but it looks better.
2 things you could do, get a new broker who has access to more 100 % financing. Not that hard to qualify, but broker has to be affiliated with lenders who offer more of these programs. Second get a non-profit organization to gift you up to 10% and/ or have seller concessions of up to 6%.
hope that helps