Zero down home loans and mortgage loans
First Security Home Loan Services takes a look back at Columbus Ohio quite a few year back.
Buying a home is very easy with First Security Financial Mortgage Services
 

First Security services the Miami, Orlando, Tampa Bay, Daytona Beach, Fort Lauderdale, Jacksonville, Key West, Palm Beach, Boca Raton, Clearwater, Cocoa Beach, Fort Myers, Hollywood, Gainesville, Kissimmee, Marco Island, Miami Beach, Naples, Panama City Beach, St. Augustine, St. Petersburg, Sarasota, Tallahassee, Venice, West Palm Beach and Winterhaven area along with the entire state of Florida.

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For all of your mortgage needs please contact:
David J Zwierecki
Phone 888-418-4467 Fax 440-614-0134

Zero money down home loan

Buying a home with no money down is becoming much easier to do and very popular among Americas homeowners. For the year of 2005 almost 50% of first time homebuyers obtained mortgage financing putting no money down on their home for a down payment. This number truly is remarkable and helps explain why the percentage of Americans buying homes vs. renting continues to grow each year. There are many advantages to buying a home so please contact your OH mortgage company immediately to see if you are eligible to buy a home with putting zero money down. Call 888-418-4467 now.

Not all 100% Financing can be accomplished with no money out of pocket. There are some costs to buying a home not incurred from the mortgage, such as home owner's insurance and property taxes which may need to be paid a year in advance.

It is even possible for you to buy a home with zero money out of pocket. A popular way to do this is to have the home seller pay your closing costs for you. Most lenders allow the seller to contribute at least 3% of the purchase price toward your closing costs.

A common way to structure Zero Money Down Home Loans is the 80/20 Piggyback. The 80/20 is a combination of two mortgages, with the first mortgage financing 80% of the purchase and a second mortgage of the remaining 20%.

If you are buying a home with nothing down, your interest rate will be higher than if you have a down payment. Traditionally, 20% was a typical down payment. So for most lenders 20% or more down will get you the best rate for your situation. The lower your down payment drops below 20%, the higher your interest rate will be.

There are also 103% loan programs where the additional 3% of the purchase price can be used to pay for closing costs. If you don't have the money for closing costs and/or the seller will not agree to a "seller assist" this may be a great option for you.

Buying a home has become much easier because mortgages with no down payment required have become much more available in the mortgage market.

Lenders have increased the loan amounts they are willing to lend with no down payment. Some lenders have reduced the credit score required. In addition, some lenders are offering interest-only payments to make qualifying easier.

We offer loans with no down payment required up to $1,400,000 with a credit score as low as 620. We also offer loans with no down payment required up to $700,000 with a credit score as low as 580. Full documentation and stated income loans are available.

Generally speaking the better your credit the better your chances of getting Zero Money Down Home Loan. However, Zero Money Down Home Loans are available to homebuyers who have less than perfect credit too.

Even if you are planning on utilizing 100% financing, you will need to submit an earnest money check when you submit an offer on a house. The amount of the check will vary depending on your market, and the price of the home you are looking at. Plan on giving the seller at least $500-$1,000, and possibly more if you are looking at a higher end home.



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If you have any questions regarding our products, getting pre-approved for a mortgage, finding out how much you qualify for, refinancing your home or just about anything else you can contact us by calling or e-mailing us and we'll get back to you as soon as possible. Thanks!


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