100 Financing First Time Home Buyer Program
The Florida Rural Housing USDA and VA home loan programs offer 100% mortgage for qualified borrowers. You can borrow up to 100% the value of your home, the 100% mortgage loan does not require equity or a down payment. In fact, the only costs you need to cover with an 100 percent financing mortgage loan are the closing costs, and even those can be financed in by utilizing seller concessions! Both the USDA Rural and VA home loans allow the home seller to pay all closing costs and pre paid escrow requirements up to 6% of the purchase price.
The two mortgage programs in 2016 that currently allow up to 100% Financing:
USDA Rural Housing program – If you’re a home buyer looking for 100% financing, this is the program you’ve been looking for. 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 interest rates in the 3.5% – 4.25% range fixed for 30 years. There is no prepayment penalty and very low mortgage insurance resulting in a loan that 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 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 (PMI) which means you keep more money in your pocket. In addition VA loans are less restrictive on credit guidelines when compaired to other loan programs.
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 home buyer 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 VA Home Loan and USDA Rural Housing 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 down payment 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 limited private mortgage insurance
- New laws recently passed now allow for mortgage insurance to be tax deductible if you chose to pay it with your mortgage
- Up to 6% seller concessions allowed. No need to pay ANY closing costs
- No special “first time home buyer class” or education requirements
- No bond money or down payment assistance needed
- 30 year fixed rates with no prepayment penalty EVER
- Get pre approved and start shopping for that perfect home all in the same day
At Five Stars Mortgage, we make is simple to qualify for a 100% 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?
Normally a lender will charge and insurance fee if you borrow more than 80% of the total value of the home. At Five Stars, 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.
Five Stars – The Right Choice for You!
At Five Stars we specialize in 100% First Time Home Buyer Mortgage Loans nationwide. We can provide higher loan values than most mortgage lenders. At Five Stars we offer:
- Many years of REAL mortgage experience.
- Simple and expediant closings
- Free loan application and mortgage consultations
- Easy online applications and tracking of your loan
- USDA, FHA, VA, Conventional and Jumbo loans
- 10 min loan application. Same day pre approvals.
- 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.
Questions? Let us help – please submit the Request Information form at the top so we insure the right specialist contacts you. You can also call ph: 800-871-2636
Serving all the entire U.S. including Florida:
Alachua County| Baker County | Bay County | Bradford County | Brevard County | Broward County | Calhoun County | Charlotte County | Citrus County | Clay County | Collier County | Columbia County | Dade County | De Soto County | Dixie County | Duval County | Escambia County | Flagler County | Franklin County | Gadsden County | Gilchrist County | Glades County | Gulf County | Hamilton County | Hardee County | Hendry County | Hernando County | Highlands County | Hillsborough County | Holmes County | Indian River County | Jackson County | Jefferson County | Lafayette County | Lake County | Lee County | Leon County | Levy County | Liberty County | Madison County | Manatee County | Marion County | Martin County | Monroe County | Nassau County | Okaloosa County | Okeechobee County | Orange County | Osceola County | Palm Beach County | Pasco County | Pinellas County | Polk County | Putnam County | St. Johns County | St. Lucie County | Santa Rosa County | Sarasota County | Seminole County | Sumter County | Suwannee County | Taylor County | Union County | Volusia County | Wakulla County | Walton County | Washington County | FLA