buying a home with no down payment: Is a ZERO PERCENT 15-Year loan possible? YES!
- 01/08/15 01:39 AM
I've read a few articles recently about a new 15 year loan offered on a limited basis by the Neighborhood Assistance Corporation of America (NACA). It is designed for low to moderate income buyers and it's purpose is to offer an alternative to the traditional or FHA 30-year fixed loan. Traditional loans with 30 year terms can offer affordable payments, however it takes a long time to build any equity, as the majority of the early payments go to interest instead of principal. According to Economist Edward Pinto, "So in effect you're mostly just paying rent to the bank, while the bank … (3 comments)
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I've read a few articles recently about a new 15 year loan offered on a limited basis by the Neighborhood Assistance Corporation of America (NACA). It is designed for low to moderate income buyers and it's purpose is to offer an alternative to the traditional or FHA 30-year fixed loan.
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