With a 100% mortgage loan, you can borrow up to 100% the value of your home from Five Stars Mortgage. A 100% mortgage loan does not require equity to be built in the home. In addition, a 100% mortgage loan does not require a down payment. In fact, the only costs you need to cover with an 100% financing mortgage loan through Five Stars Mortgage are the closing costs, and even those can be financed in by utilizing seller concessions!

These are two great programs that currently allow up to 100% Financing:

• USDA Rural Loans
• VA Loans

USDA Rural Housing program - If you're a home buyer looking for 100% financing, this is the program you've been looking for. There are no minimum credit scores required. Even no scores are allowed. If you have a 620 or higher you receive a streamlined loan with no explanations for any derogatory on credit. The USDA Rural Loan program allows us to offer you 100% financing with fixed rates ranging from 6% - 7% fixed for 30 years. There is no prepayment penalty or mortgage insurance these loans which saves you even more money. This program was designed for borrowers with limited income and credit histories. You can view a quick overview of the program by clicking HERE. Ask a mortgage professional about how the USDA Rural Home program can help you today!

VA Loans are the preferred loan of choice for any qulified veteran. They provide 100% financing with no costly mortgage insurance which means you keep more money in your pocket. In addition VA loans are less restrictive on credit guidelines than conventional loans.

There are two very similar but with more expanded approval guidelines offered by Fannie Mae and Freddie Mac which both offer 100% Financing for home buyers. These programs carry the same low rates as the My Community Loan, however there is no restriction regarding income and you don't have to be a first time homebuyer to use them. These programs allow us to offer you several great options for getting financed at 100% for your purchase or refinance!

Between the My community loans, Acorn program, USDA Rural Housing Loans, and FHA loans, we have all of your 100% financing needs covered.

Home Buying Made Simple

Why worry about using your hard earned money and having to tie it up in a non-interest mortgage? There are a variety of reasons one would chose to get a 100% home loan, such as:

• Not having to put a downpayment on your new home purchase 
• Using the funds that you may have available by putting them into higher interest bearing ventures
• Get a 100% home loan with no private mortgage insurance by having it built into the loan
• New laws recently passed now allow for mortgage insurance to be tax deductable if you chose to pay it with your mortgage
• up to 6% seller concesions allowed. No need to pay ANY closing costs
• 30 year fixed rates with no prepayment penalty EVER

At Five Stars Mortgage, we make is simple to qualify for a 100% Florida home loan. If your looking to divert your savings into other interests or perhaps you haven't saved the money yet for a downpayment, then a 100% home loan may be just what your looking for. Buying real estate is often about leveraging other people's money. We understand this concept and we are experts in helping our clients achieve their goals of home ownership.

What about Private Mortgage Insurance?

  Everything You Need To Know About Private Mortgage Insurance (PMI)

Normally a lender will charge and insurance fee if you borrow more than 80% of the total value of the home. At Five Stars Mortgage, we have several 100% financing programs that allow you to bypass the purchase of private mortgage insurance, or PMI. This insurance protects the lender in the event of foreclosure, but does not provide protection to the borrower. Why pay all that extra money when it's not necessary. The 80/20 loan is a sure way to avoid PMI, but even with one loan at 100% financing we provide options that allow you to avoid this costly nuisance.

MORTGAGE PROGRAMS

Five Stars Mortgage - The Right Choice for You!

At Five Stars Mortgage we specialize in 100% mortgage loans. We can provide higher loan values than most mortgage lenders. At Five Stars Mortgage we offer:

• Many years of Florida mortgage experience
• simple and expediant closings
• Free loan application and mortgage consultations
• Easy online applications and tracking of your loan
• Jumbo loans
• One day response on your application
• No-Doc mortgage for those with a score in the mid to upper 600's
• Mortgage financing options for those with a score of at least 500
• Use the highest of your three scores
• Deal with people that value your business. Our mortgage professionals understand that you are our number one priority. We are here to serve you and your needs