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Zero Down MortgageThe zero down mortgage is designed to offer homeownership opportunities to individuals with good credit. A zero down mortgage provides an option for those who wish to invest their savings in assets other than their home. The fixed or adjustable rate zero down mortgage is available for purchase of a primary residence. While zero down payment is required on your mortgage, you must have liquid assets of at least 3 months of your total mortgage payment as reserves. Zero down mortgage Closing Costs may be paid by the seller but may not exceed 3% of the sales price. Several of our lenders are offering zero down mortgage products as a single mortgage with lender paid mortgage insurance or as an 80/20 combination zero down mortgage. I will always look at both to make sure you are getting the lowest total mortgage payment available for your specific situation. Please understand that I am a mortgage broker with access to nearly 700 lenders and maintain access to some rather sophisticated mortgage analysis software to make sure you get the best rate available. Other common zero down mortgage underwriting requirements include:
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 zero down mortgage options. For more information on other zero down mortgage products, please see my low down payment page. I have included a page on zero down mortgage documentation requirements. I also have a Free report "Buying your First Home" available by email. Here is a short PowerPoint presentation for the
first time homebuyer
that will explain the purchase process and the advantages of being a home owner. 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.
New! View
my
Wealthbuilder presentation and learn the safe way to manage your debt
and fund your retirement.
I hope the information on this page was useful to you. Please scroll down
to view my
Mortgage Market Guide. It is a weekly publication explaining the financial markets
from a consumer's perspective that is available on this website or by
email subscription. I have nearly 8,000 subscribers today and would be happy to have you as
well. Your email address will never be used
for any other purpose.
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