100% Financing



100% financing was a way for many homeowners to purchase their homes 

in the 1990’s and early 2000’s.Today, other than the 100% USDA Rural Development Guaranteed Housing Loan and Veterans Administration Loan, 100% conventional financing is really not available to the typical borrower. 



The benefits of having a USDA Rural Development Guarantee Housing Loan are:



No down payment is required Flexible credit score guidelines 

No maximum price limit

Closing costs can be gifted or given to you in the form of a seller concession 

Repairs and/or improvements can be structured into the loan 

Great 30 year fixed rates 

You do not have to be a first time home buyer



There are a few provisions to a USDA Rural Development Guarantee Housing Loan:



You must occupy property. Your home must not be in disrepair – average condition. Borrowers must have dependable income and the ability to pay your bills on time. Borrowers must buy a home in a rural development eligible area

You and family must meet certain income guidelines found easily on the USDA site. To get complete information on USDA rural development loans please visit:www.rurdev.usda.gov/rhs/sfh/gsfh.../individuals.htm



The benefits of having a Veteran's Administration Loan are:



No down payment is required. Competitive 30 year fixed rates. No need for private mortgage insurance.

Several property types can be purchased like manufactured housing, condos, and town-homes.

There are a few provisions with a Veteran's Administration Loan:

You must meet minimal credit and income requirements. Borrower can’t purchase new construction homes.

Borrower must have a certificate of eligibility. To get complete information on VA loans – please visit:http://www.benefits.va.gov/homeloans/docs/vap_26-4_online_version.pdf