Search results for: 100% Financing Mortgage

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Buy a house with zero down & low monthly payments?

You might be thinking, how is it possible to purchase a house or condo with no money down and obtain low monthly payments? Well in the current housing market it is possible and occurs quite frequently. Now how do you make this happen for you, well there are 2 pieces to the puzzle that you need to know going into your housing search. First...
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How does piggybacking loans work?

'Piggybacking' loans has become the most popular way to purchase a home over the past few years. This avenue of financing serves two main purposes. First, it allows the buyer to purchase a property with no down payment. With the current prices of homes it has become increasingly difficult for first time buyers to save even 5% of the asking...
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Guide for first time home buyers

What can you afford? One of the biggest mistakes prospective buyers make is not understanding or realizing how to budget for a new home. Not only the closing costs associated with the purchase but also understanding the monthly payments involved. If you are looking for purchase your first home with a no down payment/100% financing...
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Buy your First home with no Down Payment

The 20% down old myth The days of putting 20% down when purchasing a home are long gone. There was a time that realtors and sellers wouldn't even discuss selling if you didn't have 20% or even 10% for a down payment. Well times have changed and the lending industry has adapted. With the dramatic increase in home values it is becoming...
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Mortgage Rates on Purchases

The rate you would qualify for on a purchase has many variables affecting it. The great rates you see advertised might not be the rates that are available to you. It helps to know what factors are involved. What does affect Mortgage Rates? How much of a down payment are you supplying? Rates for 100% financing are higher than if you...
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Traditional purchases with Down Payments

First time home buyers have always looked at putting some range of a down payment on a home. These down payments can range from as little as 3% up to the traditional 20%. The twenty percent down payment was always the standard, in this scenario you would walk in owning a good portion of the home, avoid paying PMI (private mortgage...
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Buying a home with bad credit.

Apply for a Mortgage EVEN with Bad Credit! A big MYTH consumers have believed in the lending industry is that you need excellent credit to obtain 100% financing. It is not true. Even with below average credit you can still qualify for 100% financing. You can find mortgage lenders who will offer you a loan even if your credit score is...
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No Down Payment Mortgages (100% Financing)

You can buy a home with no down payment and finance the entire home's value. Many first-time home buyers cannot afford putting down 20% of the home value, but rather go with a no-down payment option in order to use their savings to purchase furniture or other necessities for their new home. There is a few ways to accomplish this type of...
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Home Purchase Glossary

Important home purchase related terms Pre-qualified - this is when a mortgage consultant reviews your credit, income and assets to determine what mortgage amount you can afford. This is the first step in the home buying process, most realtors will request a pre-qualification letter prior to showing you properties. 100% Financing -...
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no money down & poor credit mortgage loans

Are you thinking of buying a home? Are you sick of living with your parents or throwing away money each month on rent? Do you feel you won't get a mortgage because you have no down payment or a poor credit history? It may come as a surprise to you but you do have options available. There are loan programs out there for people in your...
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Is a 100% refinance possible?

It is definitely possible to refinance up to 100% of your home's value. There are many programs and products that will enable you to accomplish this. But first you need to ask yourself why you would want to do this. Then determine if it is the best course of action. Here are a few reasons most homeowners would refinance the entire value...
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Is an interest only loan a good idea when buying a house?

Should you be paying interest only when you buy your first home? Well there are different answers to that question. It depends on the situation of the buyer and the current housing market in that area. Interest only loans To begin with, when you are paying an interest only loan you are not paying any principal down at all. So if you...
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Do you need a 30% down payment to buy a property?

This is of course after about half of them told you none of your business. Generally a 30% down payment is not required. If you are in this very fortunate situation that's great, but you may find that you are better off using a smaller down payment and keeping some of that cash in savings. A large down payment does have its...
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