How to go about buying a 2nd house with no money down!?

I am looking to buy a second home, but one bank I called says it is impossible without money down. I am going to sell the house I am now but that doesn't leave me much left. One bank said it is imperative to put 20% down and i do not have this. Is this true? Can someone give me some options or opinions. The house I am looking at is in the 300's so I would have to put over $60,000 down. Who has that much money theses days????

ThanksHow to go about buying a 2nd house with no money down!?
if you can't afford the down payment, then you can't afford the house.



if you really want a second house with no money down, then i suppose you could find a vacant lot, steal some cardboard boxes, and play make-believe, though.How to go about buying a 2nd house with no money down!?
That was the problem with the whole market when it started. Because homes became over inflated with make believe ridiculous prices. So everyone went bust on 300k homes because they could not afford them. The days of banks just lending are over !

They now will require more or less blood deposits along with signatures. My answer to you is just wait pocket some money and then buy when the homes continue to dwindle down in price as they are doing now.

What you could do is sell the one you have and buy a multifamily and rent out the other house within it to pay for the mortgage or part atleast.

Hope this helps sorry there is no clear cut answer. But Americans ruined the easy home ownership dream with greed.
if selling one and buying another make the sale of your home an item in the purchase sales agreement so that all closes at the same time and then you have less to put down on the new home
You can't. Not anymore.