A Glimpse Of Zero Down Mortgage Option
November 10th, 2009 by Rob KosbergInterest rates are steadily going down and so are the prices of homes. Many Americans are looking for a way to get in on really good real estate deals by applying for zero down mortgage loans. This is good way to get your dream home with no or little money down. Many of these loans are for the first time buyers.
A few notable mortgage brokers programs are offered to those who have marginal to fair credit scores and want to buy their first home. These are a couple popular mortgage lenders that offer really good deals for zero or low down payment.
1. USDA has a program that is designed for those who would like to purchase their first home in a targeted rural area. There are a few income restrictions, and they get an interest rate of 3. 5%.
2. A company called offers low to moderate income borrowers the chance at owning a home for as little as 3.5% down.
Along with private mortgage brokers offering programs to assist in buying a home, the government offers a few options, the most popular being FHA. This program looks at the last 1-2 years of payment history to see if there are any questions about the credit of the person applying for the loan. FHA often helps those with fair to moderate credit history. When applying for FHA, there can't be any bankruptcies in the past two years. The applicant should also have an excellent credit record after the bankruptcy as been discharged.
Buying the first home can be an exciting time in a consumer's life. It makes the deal even sweeter when money is saved through one of the various programs offering little or zero down mortgage loans. In combination with the lowering cost of buying a home, it is a good time to use the programs offered by lending companies.
If you happen to be looking to Buy a Home then check out Rob Kosbergs' Complete FREE Guide on Buying your Dream Home with a or for up to date Mortgage info visit my
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