100% Financing - Really! USDA Home Loans 
Yes, there really is 100% Financing available for certain areas. And it gets better.... No Mortgage Insurance.This is a government loan program called USDA, I know it sounds like the meat stamp (lol). This programs is for Rural areas such as Winchester, Menifee, Wildomar, Romoland, Sun City, Homeland and some parts of Redhawk are also considered for a USDA home loan.
USDA home loans is a great program for first time home buyers that would love to buy a home and struggle coming up with the down payment. You do still have to come up with closing cost but sometimes. appraisal permitting you might also be able to roll some of those into the loan. Rules always change so it is important that we always check before moving forward.
USDA home loans also have income limits however they are fairly reasonable. In Riverside County the buyer cannot make more than $76,000 for a household of 1-4 people and cannot make more than $101,100 for a household of 5-8 people. Your FICO's still need to be at least 620.
Here is a website that has a little more information.
http://www.usda.gov/wps/portal/usdahome
Not all lenders are comfortable or very familiar with this type of loan. I do have a lender that I work with that is very familiar and could help you see if you can qualify. A few minutes of time might be worth the investment to have the chance to be a home owner. For more information give me a call.
Here is some additional useful information added by Homesellerguy
The rate is fixed for 30 years
Property Types: Owner occupied, Own only 1 home, Prior homeownership is OK,
Credit score: No foreclosure in past 3 years, Tax and government liens must be paid, No collections last 12 months, Satisfactory verification of rent
BK and Foreclosure: Ch7 & Ch13 must be discharged for 3 years, foreclosures 3 years
Loan to value: 100% of the apprised value
1. Difference between apprised value and selling price can be used to pay closing costs, repairs, 2% fee
Income: Foster income can't be used, No non-occupying co-borrowers allowed
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