How to Buy a Home in Cash With No Mortgage

A record 33 percent of all home buyers in the U.S. pay in cash, according to the National Association of Realtors. How do these people come up with the loot to buy a home – often in the hundreds of thousands of dollars – without a bank loan?

Well, some of them are investors and wealthy individuals with big chunks of money at their disposal. Others are foreigners capitalizing on weakness in the U.S. real estate market. But most of them are move-up buyers able to take money from the sale of a previously-owned home and pay for a new house in cash, without a mortgage.

But what about first-time buyers and others lacking deep pockets?