Financing- Florida Home Mortgage Loans
Apply for a 100 Percent
Financing Florida Mortgage or call us at
Clients from a variety of backgrounds and all income
levels have good reasons for buying a home without a down payment,
and valid reasons for 100% Financing.
It is becoming more and more common to purchase a
home with no money down. As the demand for 100 Percent Financing
Loans has increased, we have made sure to offer a greater number
of 100 Percent Financing options.
Also you may not need:
- No down payment required
- No PMI - Private Mortgage Insurance
- May finance closing costs and repairs
- No required contributions from sellers
Our Florida 100% Home Loans is available for both
purchasing and refinancing a home.
100 Percent Financing (zero down) is a means to assist many people
that are currently renting to become homeowners! Simply put, 100
percent financing means financing 100% of a home's purchase price.
Our zero down home loan programs apply to single family residences
(from 1-4 units), town homes, condominiums, and PUD's.
The following are just a few of the examples of how
we find 100 percent financing.
The Office of Housing and Urban Development (HUD) offers special
financing for first-time home buyers. This program is based upon
need and is designed to allow low-income families to obtain their
first home without a significant down payment or closing fees. Also,
many HUD foreclosure homes require no down payments.
Programs- The federal government also has programs
to help farmers and police personnel acquire homes with nothing
down. For those with limited income who wish to live in rural areas,
the Rural Economic and Community Development Administration offers
farmers home loans with nothing down. Monthly payments may be subsidized
and the interest can be as low as 1 percent. To encourage police
to occupy homes in crime-targeted areas, special federal programs
permit police officers to purchase homes in selected areas with
VA Loans -
The method of purchasing a home with no money down that most people
are familiar with is through the Department of Veterans Affairs,
or VA. This benefit is available to active and retired members of
the military service, veterans, POW's and MIA's and their unmarried
widows. All branches of the service including the Coast Guard are
eligible. Also members of Selected Reserves or National Guard who
have completed six years may be eligible.
What many people do not know is that you do not have to be a veteran
to purchase a VA foreclosure with nothing down. VA foreclosures
are available to the general public. Some require nothing down or
just a fee of $500. Although the homes are sold from the VA, purchasers
must obtain conventional or FHA financing unless they are veterans
or active military. VA foreclosures with nothing down or $500 fees
can be found among those from banks, lending institutions and federal
House Trading, Lines
of Credit - Many investors acquire zero down financing
by trading one property for another. In some cases, they trade one
large property for several smaller rental properties. Or they trade
houses in different cities to acquire a vacation or retirement home.
Property trading is also a legal way to avoid the capital gains
associated with selling a property. Another way to acquire a property
may be with a line of credit secured by the equity in another property.
This allows the homeowner to purchase another property using the
accumulated equity without selling the original property.