Buying a Home with No Money Down & No Closing Costs

Buying a Home with No Money Down & No Closing Costs is still possible in 2011!

 

There are still mortgage loan programs available for buyers to get into a home with NO MONEY OUT OF THEIR POCKET!

 

Below are 3 unique mortgage programs to guide you through Buying a Home with No Money Down & No Closing Costs:

 

 

 

1. USDA Program -  In certain geographic locations you may qualify for a 100% Financing Mortgage with No Private Mortgage Insurance (PMI) which is usually required when you borrow more than 80% of the sales price. Eligible borrowers may use Federal Grant Funds to cover all closing costs.  To determine if the property you are buying is eligible, go to USDA's Areas of Economic Opportunity.

2. VHDA Loan Program-  This program also provides 100% Financing of the sales price and includes No Closing Costs because these costs may be paid by a Federal Grant issued to qualified buyers.  To determine if you qualify for this Free Grant program, go to Free Money.

3. VA Loan -  For our military servicemen/women this program likewise provides 100% Financing with no PMI, and closing costs may also be paid by Federal Grant Funds.

 

 

 

 

 

Strategies for covering closing costs with no money out-of-pocket include:

 

1- Obtaining the Free Federal Grant through our bank's unique offering to qualified borrowers. Apply Here!

2- Financing the closing costs with a 2nd mortgage loan at the same low rate as the 1st loan.

3- Request that the closing costs be paid by the Seller at Settlement.

 

 

As a house-warming gift, I am offering to pay for your appraisal of your new home (value $450), for the first 25 customers who get a mortgage loan from me in 2011. 

Please email me at sconlan@vhbmortgage.com or call my cell 301-943-1049 and I will educate you about the home buying and mortgage lending process.