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100% mortgage loans are not dead; NO mortgage insurance (PMI)

By Al Rodenburg

Services for Real Estate Pros with Al Rodenburg

December 31, 2012 06:24 AM

In a time when mortgage loan programs are becoming more and more strict and harder to qualify for - there is some good news. Besides historically LOW rates, there are:

1. 100% Physicians (MD) loans (up to $750,000) - with no mortgage insurance (PMI)
2. 100% VA (veterans) loans (to $417,000) - also with no PMI.

The terms for the doctors (physicians) loans are pretty straight forward; contact me for details, if interested.

100% financing for vets is a wonderful program for service men and women who have provided such a valuable service for this nation.

p.s. Construction loans that can be converted to long term financing are available, too

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Lenn Harley

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA

Real Estate Broker - Virginia & Maryland

I've used both of those programs. I use VA regularly. We also have 100% loans with the USDA program and a CDA program in MD and VHDA program in VA.

You bet 100% financing is still available.

Dec 31, 2012 07:02 AM

Les & Sarah Oswald

Realty One Group - Eastvale, CA

Broker, Realtor and Investor

Hi Al, I learned something new again..100% physicians loan. Was not aware of it. I will have to read more about it. One be amazed how many physicians would utilize this loan.

Happy 2013!

Dec 31, 2012 09:23 AM

Stephanie Stringer

First Choice Loan Services NMLS#210764 - San Antonio, TX

Mortgage Loan Originator

Al, I was looking for a 100% DR loan a few months back and had no luck in placing it. I'm a loan officer in SA so I will be calling you to get some information regarding this type of loan.

Dec 31, 2012 10:20 AM

Michael Setunsky

Woodbridge, VA

Your Commercial Real Estate Link to Northern VA

Al, a couple of great programs to assist buyers. I heard of similar loans as the physician loan for teachers, police officers, etc. Good programs.

Dec 31, 2012 09:10 PM

Edward Gilmartin

CRE - Boston, MA

I never understood how the government could allow a veteran into a home with zero down considering many of them move so often they oftentimes wind up in a bit of trouble condidering they often have zero equity in the home and meager savings...besides interest on savings is well below the interest rate on mortgages.

Dec 31, 2012 09:25 PM

Carla Harbert

Full Time REALTOR in Ohio - Brunswick, OH

RE/MAX Omega, Brunswick Ohio

I did not know about the program for 100% financing for a physician. Would you know if this would be possible for a vetenarian?

Dec 31, 2012 10:39 PM

Gary Frimann, CRS, GRI, SRES

Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA

REALTOR and Broker

I have used the VA for a few loans for my buyers. I think it is the greatest government program out there.

Dec 31, 2012 11:29 PM

Richard Weisser

Richard Weisser Realty - Newnan, GA

Richard Weisser Retired Real Estate Professional

Al...

The VA loan is great for so many reasons, but first and foremost, it helps those that have served their country!

Dec 31, 2012 11:46 PM

Larry Bettag

Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL

Vice-President of National Production

Let's not forget USDA loans as well!!!! Good call on this post!!!1

Jan 01, 2013 01:01 AM

Joel Weihe

Realty World Alliance - Wichita, KS

Helping you to use your VA home loan benefits

Here in Wichita I do a lot of VA's. We also have USDA rural and KHRC first time homebuyer grants. All are 100% financing except the grant. You need 2% of purchase price.

Jan 01, 2013 02:46 AM

Fred Sed

Fred Sed Group ~ Your Premier Southern California Realtors - Irvine, CA

Your Southern Cali Realtor, Why? Because Fred Se

Great information. Thanks for sharing Al. I was unaware of the physicians loan. That could come in very handy in this area.

Jan 01, 2013 07:22 AM

Christine Donovan

Donovan Blatt Realty - Costa Mesa, CA

Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Al - There are definitely a few zero down loans still out there.

Happy New Year.

Jan 01, 2013 02:24 PM

Cindy Jones

Integrity Real Estate Group - Woodbridge, VA

Pentagon, Fort Belvoir & Quantico Real Estate News

Navy Federal also has a 100% loan program for military members who are not VA loan qualified with no PMI.

Jan 01, 2013 09:00 PM

Brenda Mullen

RE/MAX Associates - San Antonio, TX

Your San Antonio TX Real Estate Agent!!

The VA and USDA programs are wonderful...Cindy, I didn't know Navy Federal had a program like that. I will have to research that! Wow, love learning from Active Rain..

Jan 02, 2013 12:03 PM

100% mortgage loans are not dead; NO mortgage insurance (PMI)

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