How to Buy A Home with Absolutely No Money Down

Many potential homebuyers have the ability to qualify for a mortgage but lack the necessary funds to pay for the down payment and closing costs. A new innovative home ownership program allows qualified buyers to buy a home with absolutely no down-payment getting you into the housing market immediately!

Don't wait, buy NOW!
              With no money down!

Why pay your landlord's mortgage when you can be building your own equity.

  • NO money for down-payment

  • NO money for closing cost's & fee's

  • Start earning equity

  • Tax deductible mortgage interest

  • Can be used on new or resale homes

First Time Home Buyer see more

We've organized the facts right here in an easy-to-follow format. Useful information on the entire process.

How Much Home Can You Afford?

Get an estimate of what your mortgage payment may be using our mortgage qualifier and your household budget.

Take the Mystery Out of Home Buying

Here are the questions we hear from first-time homebuyers - Home Buying Questions and Mortgage Questions.

A new program allows qualified buyers to buy a home with absolutely no down payment.

You may have owned a home before and are presently renting or maybe you are a first time homebuyer and need a way to break into the housing market but held back because you thought you required a $10,000, $20,000 or even more for a down payment. Well regardless of your present situation, if you want to get into, or re-enter the housing market without having to make a cash down payment, then this new program

The New 103% & 107% Loan is now available! This loan automatically rolls your closing costs into the loan itself, so you don't need up front cash for closing.

Scenario - Client is interested in renting a home for $1500 and is curious to see what it would take to purchase. Criteria is that her 'average' credit score is 660 and she doesn't have much in savings. We have several no money down programs. She went with a very popular 107% program.  She borrowed the total sales price PLUS an additional 7% to cover extra's like closing costs, fees, required pre-paid's consisting of insurance & taxes.

She will have add-on's because of her 'average' credit score. The 107% program** interest rate is a 'little' higher than conforming 30 year loans, but is a great way to obtain a mortgage and leave your money in the bank.

She decided to purchase her "dream"  home valued at $150,000.  Her loan amount is $160,500 with her interest rate at 7.5% (based on today's rates).  Her principal and interest payments are only $1122!  Remember her rental amount was going to be $1500!  Our client obtained her loan, paid nothing in closing costs, did not have to come up with any down payment. She basically moved into her home without any out of pocket cash.

**Interest rate is higher, but after consulting  with a tax specialist about the tax advantages she decided that her interest was deductible and she would be gaining equity in her home based on today's market. This comparison takes all factors and shows positives/ negatives after five years!

See More Real Estate & Mortgage Scenarios or a collection of Buying & Selling Checklists