Saving for a down payment should be no reason you put your dreams on hold. 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.

Regardless of your credit, I have many options for no money down mortgages.  Of course the better your credit, the more options you have available and the better your interest rates.  Contact me for all options.

There are several ways to obtain a zero down mortgage:

1 – Government Grants

Government grants provide you with money for your down payment, closing costs or both. 

2 – Government Sponsored Loans

Government sponsored loans include loans guaranteed by FHA, VA (for veterans) and First Time Home Buyers.

3 – Rural Housing

Homes that are in areas outside of main cities may qualify for special loans from the USDA.

4 – Special Circumstance Financing

Programs are available for some groups of people such as teachers, police officers, firefighters, and doctors.  Often times these groups can obtain zero down financing and in some cases can buy a home at 50% of the market value

5 – Seller Paid Costs

Often times the buyer of a home will think they have no money down financing but forget that there are costs associated with the mortgage.  Having the seller pay closing costs is many times the door to true no money down financing

6 – Seller Financing

In cases where credit is a real issue, having the seller of the home participate in the financing can make of break the deal.  If the seller is willing to finance the entire price, you will not need me.  However, those are the rare exception. Often times, I can provide most of the financing and the seller can help finance the remaining 5% to 20%.  Contact me for more information.

7 – Combination of some of the above options

Using a combination of any of the above techniques works well but will likely need an experienced loan officer to help guide you through the process. Contact me and I will help you structure the best financing options

Call or contact me TODAY and let me help you explore all your mortgage options so that you know you are making an informed choice. I look forward to helping you!