no money down: Can I Get A Mortgage With Less Than 20% Down?
- 09/13/11 03:19 PM
I was asked this question about three times over the last two days, so I thought I'd put out some information relative to this question. Needing 20% down is a common misconception in the marketplace today. There are numerous options for obtaining financing with less than 20% down. Below I will lay out several options for either no down payment or low down payment. NO DOWN PAYMENT OPTIONS: USDA/Rural Development - The Guaranteed USDA program offers 100% financing for qualified borrowers. There are many locations outside of major metropolitan areas that are eligible for this program. Click here to see if … (2 comments)
no money down: USDA Loans adding monthly PMI in October 2011
- 06/14/11 11:07 AM
USDA Rural Development has long been the 100% financing leader for a lot of areas across the nation. One of the major benefits of this loan product was that it required no monthly escrows for an annual mortgage insurance (MI). MI is sometimes referred as PMI, and the loan is advertised many times as 100% Financing with No PMI. That’s all going to change come October 1, 2011. USDA issued Administrative Notice 4551 on February 24, 2011 that alluded to this upcoming change. The change has been confirmed in an email that also included instructions on how to calculate the … (0 comments)
I was asked this question about three times over the last two days, so I thought I'd put out some information relative to this question.
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