Get a Mortgage with Little to No Money Down


Get a Mortgage with Little to No Money Down

Are you having trouble accessing the right mortgage program because of a dilapidated credit score? Do you want interesting insights to help you get an amazing mortgage program deal without putting down that stiff cash deposit? Use the insights provided here and you’ll have no problem accessing that perfect tailor-made zero down mortgage program.


USDA Loans

The U.S Department of Agriculture offers the flexible and remarkably consumer friendly USDA Loans. Ideally, these mortgage loans are designed to improve the housing conditions for the low and moderate income earning Americans in the countryside.

USDA loans save borrowers from the stiff monthly premiums as is often the case with the atypical mortgage programs. The interest rate attached to the USDA mortgage loans stands at 0.35% while that of the conventional FHA loans is 0.85%. Qualifying for these low-interest loans by the US Dep. Of Agriculture is quite the straightforward process.

Veteran Association Loans

VA loans are an absolute life-saver for veterans in dire need of home buying financing options. With VA loans, borrowers can get up to 100% tailor-made mortgage financing deals. What’s more, VA loans don’t require you to have the often very expensive mortgage insurance coverage. VA loan borrowers also rake in extra savings courtesy of the ultra-low interest rates. The program charges a modest repayment rate of just 2.15% on the principal and that money can be amortized into the financing deal as well. It’s worth noting that VA loans don’t call on the borrowers to have impressive credit scores. A majority of VA loans lenders are glad to lend veterans with credit scores as low as 620.

DO YOU NEED FINANCIAL ASSISTANCE

Stop! If you need financial assistance such as money to pay bills, a personal loan, or debt relief. See what resources are available to help you today.

Resources for Me
DO YOU NEED FINANCIAL ASSISTANCE

Stop! If you need financial assistance such as money to pay bills, a personal loan, or debt relief. See what resources are available to help you today.

Resources for Me

Navy Federal Credit Union

Members of the navy have it remarkably good when it comes to taking out zero deposit mortgage loans. First-time navy home buyers stand to walk away with conforming loans with a ceiling limit of up to 1 million dollars.

FHA Loans

FHA loans are an ideal choice of low down payment home lending option more so for cash-strapped Americans. The repayments are determined by the average credit score of the home buyers. For instance, with a credit score of 580 points and above, you’ll get a favorable down payment interest rate of just 3.5%. With a score ranging between 500 and 579 points, however, the down payment rate rises slightly to clock an average of 10%. FHA loan borrowers have the option of picking the 30 years or the 15-year adjustable-rate mortgage plans depending on your preferences.


The FHA mortgage plans come highly recommended for yet another reason. The option allows you, the borrower, to finance the mortgage principal with gift cards. That means FHA borrowers can get to own their first ever home without having to cough up a single dollar. Other pros associated with FHA mortgages include, they readily process loans for borrowers with high debt to income ratios, the loans are assumable and they are without a doubt, the easiest mortgage type one can qualify for.

Verdict

Despite your lingering financial woes, it’s still possible to land a dream government-sponsored mortgage program. Asides from the USDA and FHA mortgage loans outlined above, you can also save thousands on your first home acquisition thanks to other popular low-down mortgage programs like the 97% conventional LTV mortgages and the FHA 203K home renovation loans.