100% Financing

With access to some of the Nations top Lenders and 100’s of Loan Programs to choose from, I have a loan for just about every financial situation. Whether you are looking to Refinance, Purchase a new home, take Cash-Out, or are looking to build your own Dream Home with a Construction Loan, No Problem! Let me do the Shopping for you on your next Mortgage Loan.

Together, you and I can review your present situation, discuss the advantages of your loan, and find the option that works best for you and your family.

Below, you will find some useful information that was put together by a group of Mortgage Professionals from www.brokeroutpost.com . Enjoy, and I look forward to speaking with you soon!

Today’s lending market is far more lenient with home loan financing than in times past. The ability to borrower up to 100% of the homes value would have been un-thought of 20 years ago.

If you are looking for 100% financing but do not qualify for it, there are downpayment assistance programs available that can help you purchase your new home. Ask your mortgage professional in Huntington Beach, about such programs that may be available to you. These programs are available to people in every credit situation, and are a great tool to get you in your dream home.

For example: FHA requires that you put 3% down to qualify for an FHA mortgage. The grant programs will give you the 3%, as long as the sellers agree to it, and it is written in the offer to purchase. The money does not get paid back from your funds ever, thus achieving 100% financing. for you. This is just one example of how a downpayment assistance program can work for you.

Since real estate values have increased at a much faster pace in recent years, many home buyers find it difficult to save for a downpayment. As a result, 100% financing has become ever more popular. Although more banks are offering an array of 100% financing loan products, home buyers should be realistic and expect to pay higher interest rates on these type of "No Money Down" mortgages.

When you are purchasing a home with 100% financing it is an option to get the home sellers to pay your closing costs. This can make owning a new home a very low cost process.

In 2005, 43% of first time home buyers used 100% financing programs.

100% financing can be obtained by financing 1 loan at 100% of the value of the home or by dividing the loan up into 2 mortgages and financing an 80% 1st mortgage and a 20% 2nd mortgage, which is called an 80/20. An 80/20 in becoming a very popular financing option for people looking to avoid mortgage insurance.

There are even programs that will allow you to finance up to 103% of the purchase price of the new home, the additional 3% is used to help pay for closing costs.

When you are purchasing a home with 100% financing it is an option to get the home sellers to pay your closing costs. This can make owning a new home a very low cost process. Make sure your relator knows that you want seller paid closing cost's when you write your offer to purchase.

In addition to the 100% programs for your primary residence there are now programs that will allow you to purchase a non owner occupied or investment property to 100%.

There are certain qualifications to get 100% financing that your mortgage broker can help you figure out. They are very lenient and there are tons of programs available. If your even considering purchasing a home, contact your broker now donald@homerefinow.com .