100% financing is going away - 03/20/08 06:55 PM
The only true 100% financing left will be VA. 
FHA is still at 3% down payment.  This program allows 6% to come from other parties.  So the 3% down payment and the closing costs can be covered through seller concessions. 
All other first time homebuyer programs will be with a 3% down payment.  Most of these products have a maximum of 3% that can come from the seller to cover down payment and/or closing costs. 
Product Updates:
·       Effective 3/31/08 the Flex 100, My Community Mortgage 100%, and Home Possible 100% are being discontinued. The MI companies will no longer insure these … (4 comments)

 
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Jerry Wright MLO 181458

Marysville, WA

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Absolute Mortgage

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