No Money Down Mortgages Stage a Comeback.
Two credit unions NASA Federal Credit Union and Navy Federal Credit Union are offering members mortgages without requiring any down payment or mortgage insurance.
One big advantage is that is you have a home you would like to move out of and move into the home of your dreams then you can purchase a second home and rent out your first home. As long as the first home was not purchased with a FHA loan.
Many of our move up buyers have their first home in a VA loan. This allows them the opportunity to move up to the home of their dreams with this zero money down FHA loan product.