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Buyer Info
Do Not Apply For Any
Mortgage Until You Read These 2 Special
Reports:
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Stop Paying Rent - How to Move into a New Home with NO MONEY
DOWN!
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No Money Down House
Strategies That Will Save You Thousands
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No
Down Payment Mortgages Loan Types
There are several different types of no
down payment mortgage loan programs you can choose from.
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100%
Loan - This program is where you finance the
full purchase price of the home with one loan. You
will have one monthly mortgage payment. Requires a
minimum credit score of 600. |
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80/20 Combo Loan - This program involves you
having 2 simultaneous loans. You will have a 80%
ltv first mortgage and a 20% ltv second
mortgage. So for example if the purchase price
of the home is $200,000. You will have a first
mortgage for $160,000 and a second mortgage for
$40,000. You will have 2 mortgage payments every
month. The advantage to this program is it
allows you to avoid having to pay mortgage
insurance on the loan. Mortgage insurance
is required on some loan types when ever you
finance greater than 80% of the purchase price.
Requires a minimum credit score of 580. |
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103% Loan - This
program allows you to buy a home with no
down payment plus finance up to an
additional 3% of the loan amount to cover
closing cost. Maximum loan amount for this
program is $500,000. Minimum credit score
required is 680. |
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100% Stated Income
- This no down payment mortgage loan
program is great for self-employed
borrowers whose income can often be hard
to document. With this program income
documentation is not required.
Maximum loan amount is $600,000 for
self-employed and $500,000 for W-2. A
minimum mid credit score of 620 is
required for all borrowers on the
loan to be eligible. |
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VA Loan - If
you are an eligible military veteran
then you can purchase a home for up
to $417,000 with no down payment if
you use your VA loan benefit.
The VA loan has several advantages
over other no down payment programs:
interest rates are lower, mortgage
insurance is not required, the loan
can be assumed when you go to sell.
To be eligible for the va loan you
should have current good credit with
no outstanding collections and no
late payments within the last 12
months. |
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Get Your Free Home Loan Quote Now Using LoanWeb
You will be able to receive multiple quotes by
completing one simple application. You can then select the lender who offers
you the best terms.
Begin Here
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Click Here
To Get Pre-approved Now |
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Veterans
Are you a military veteran? If so visit our VA loan
website at MilitaryVALoan.com
to get information and apply for a "No Down-payment" VA loan.
40 Year Amortization Loans are now available. 40 Year
Amortization = Lower Monthly Payments For You.
What you don't know about Interest Only Loans. These loans not only
lower your monthly payment but can also make you money.
Click Here for our exclusive
Interest Only Loan report.
A common mortgage loan belief is that the lower
the rate the better the deal. This is a myth.
Click here to get the real
facts about interest rates.
Get
Pre-approved before shopping for a home so that you can shop for
your new home with confidence. |
