Blog, Down-Payment Assistance, Loan Programs, Shopping Secrets

Zero Down Financing Still Available!

YES Zero Down Financing is still available.  Although the no downpayment programs of today are not as easy to qualify for as a few years ago, they are still around!

-VA still offers the same 100% program

-Conventional programs are also available for the higher credit scoring borrowers (minimum score for conventional 100% - 680)  These conventional programs even offer financing for the closing costs up to 103% of the sales price!

-USDA still offers the same 100% program for borrowers buying in less densely populated areas (City populations of approximately 10,000 or less with qualifying credit down to 580)

We don’t think that saving for a down payment should be the reason you put your dreams on hold. We can help you buy your dream home with a zero down mortgage loan. You’ll not only be able to afford a home sooner, you’ll probably be able to afford more home. With a zero down mortgage, the amount of loan you can qualify for is determined by your ability to make your monthly payments rather than how large a down payment you’ve saved. And, for most buyers, this means qualifying for a larger loan.

Buying a home is something we all dream about, usually for years. You may have saved money for a down payment, but just don’t have enough to buy your dream home. If that’s the case, a piggyback loan may be the best option for you. Different than a zero down mortgage, a piggyback loan is actually two mortgages. The first mortgage is for 80% of the purchase price. The “piggyback” loan (or second mortgage) covers the shortfall between the purchase price and your down payment savings.

Let us help you explore all your mortgage options. We look forward to helping you!