Apply Online          


Option Arm Manage your Mortgage!


Interest Only Mortgage

No Doc

Real Estate Investor


No Downpayment Loan                                                                                                  

The no downpayment loan is designed to offer homeownership opportunities to individuals with good credit  but who lack the ability or desire to make a downpayment on a home. It provides an option for those who wish to invest their savings in assets other than their home. The fixed rate loan is available for purchase, construction, or purchase/ home improvement of an owner occupied primary residence. While no down payment is required, you must have 3% in the transaction. These funds are applied toward your closing costs and may come from your own funds, a gift from a relative, grant, or sale of assets you own.

Other underwriting requirements include:

  • All borrowers must occupy the property

  • Not available in Alaska, Hawaii, New Jersey, Ohio, Oregon, or Dade and Broward counties in Florida.

  • Maximum Loan is $417,000.

  • Minimum 700 credit score.

  • Requires a 1.25% Delivery Fee

  • 1 unit primary residence only. Includes approved condominiums and PUDs.

  • Your income may not exceed 100% of your median income. Call or email for your area's median income.

  • No bankruptcy or foreclosure within 7 years of closing.

  • Total monthly debt to income ratio may not exceed 41%

Several of our lenders are now offering interest only options which can often lower your payment or allow you to purchase more house. I have a rather extensive section detailing these new Interest only loan options.

For more information on other no downpayment loan products. please see my low down payment page.

I also have a Free report "Buying your First Home" available by email.

As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your consumer and mortgage debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.

No downpayment loanPrequalify for your No Downpayment Loan.

ARMs   Home Equity    Interest Only Mortgage  Investor Loans  Jumbo  Mortgage Links   Reverse Mortgage  No Downpayment Loans   Refinance Center   Site Map  Vacation Home Loans   Commercial Loans Mortgage Home

NEVER an Origination Fee!

Mortgage Market Guide a weekly analysis of the mortgage market

Extensive consumer information on construction,remodeling, first time homebuyer,and no documentation mortgages.