How No Down Payment Mortgage Loans Work

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How No Down Payment Mortgages Work

Available No Down Payment Mortgage Loan Programs

Loan Checklist Documentation That You Will Need

Closing Cost - How Much You Will Need To Bring To Closing

No Down Payment VA Loans For Military Veterans

First Time Homebuyer Tips

Mortgage Payment Chart - See Your Monthly Payment

Damaged Credit Mortgage Loans - Loans Available For People With Bad Credit

Dos and Don'ts While Your Loan Is In Progress

Mortgage Terms - You Need To Know These

Loan Application - Apply For A Loan Now

How No Down Payment Mortgages Work

A no down payment mortgage loan is just what it says... a mortgage loan that does not require you to put up a down payment. This means you are financing 100% of the purchase price of the home. For example: If the home you want to buy cost $200,000 then you will be able to get a mortgage loan for the full $200,000 as long as you are income and credit qualified for the loan.

Other than the fact that you do not have to put up a down-payment, 100% financing mortgage loans work just like regular mortgage loans. You will be able to choose from either a fixed-rate or adjustable rate with loan terms of 15, 20, 25, 30 and 40 years available.

Also, it is important to keep in mind that while a down payment is not required on the loan you will still in incur normal loan closing cost. Closing cost generally average 4.5% - 5% of the loan amount. However, these closing cost can be paid by the seller. click here to see how this is done.

There are many advantages to obtaining a no down-payment mortgage loan. The most obvious is it allows people the ability to reap the benefits of homeownership now instead of waiting years while they try to save up the 5-20% down payment plus closing cost required on standard conventional loans. Another advantage is you get to keep more cash in your pocket which can be used for other purposes such as decorating and buying furnishings for your new home.

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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.