100% loans for your buyers

HELP IS OUT THERE.

This tough market has seen a huge drop in loans at 100% of the value. Most of these loans were sub prime and we all know those companies are out of business.

But thanks to FHA and VA these loans are still possible. VA allows up to 100% financing along with the seller contributing 6% to the closing costs. FHA allows 97.75% with 6% seller concessions. FHA does allow the remaining 2.25% to come from a non profit organization like the Nehemia program. Total combined loan comes out to that 100%.

There are a few parameters on these loans that you have to be aware of. The first is they are full documentation loans only, borrowers must prove their income, no "stated" (no Income verification) loans. The property must be their primary residence and the need to have 2 years on the job. An important key is credit score is not a factor, so even if the client has fair credit there is a good possibility they will be approved.

There is also the "my community" program which allows 95% in this area. The rates are very good but the client does have to qualify credit wise and they can not make more then $53,000. This program is great for first time home buyers.


We offer all of these programs, so call us for your immediate pre-approval.