Buying a home with no money down is not commonly known. If you went to your local bank and asked them how to obtain a loan with no money down, they may tell you either no, or you don’t want a program like that as it is usually not beneficial. Statistics also show that 60% of all real estate agents would also tell you that you can’t do this type of loan, or if you can it happens so rarely it’s not worth accepting an offer with someone that is doing that.
The Foss Group specializes in “No Money Down Programs”.
- Every lender that The Mortgage Company, LLC uses including Sage Funding has a program to buy a house with no money down.
- Jackman and Foss Realty agents are familiar with how to buy a home with no money down and will structure the offer properly.
You don’t have to buy a late night course to find out how to do this. One of our agents from Sage Funding, Jackman and Foss Realty LLC., or a loan officer from The Mortgage Company could easily help you to do this.
Is buying a home with no money down only for people with perfect credit?
- No, we offer programs for buying homes with no money down with a credit score as low as 560.
- Your local bank would need a 620 credit score with perfect credit and at least 5% down, with Private Mortgage Insurance.
Do you need Private Mortgage Insurance (PMI) with a “No Money Down” loan?
- Yes, with some lenders.
- 95% of our no money down loans do not require PMI.
Mortgage money is the cheapest money you can borrow. Even If you have money to put down and good credit, most of the time we do 100% financing. So it doesn’t make sense to put money down on your home and then have money outstanding for credit cards, cars, and other items like furniture.
- Loans with no money down for a previous owner and a first time buyer.
- 100% financing on Non owner occupied properties, Duplex’s and Single families.
- Stated income, 100% financing for purchases or refinancing.
- No money down purchase, or refinance 100% of the value of your existing home.
- We also offer purchase programs up to 107% financing of the purchase price of the home.
Contact us to to learn more about our "No Money Down Program".
