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Zero Down Mortgage  is currently unavailable                                                                                                

The 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:

  • All borrowers must occupy the property

  • Maximum Loan amount is $417,000, although several lenders are offering zero down jumbo mortgage products

  • Minimum 660 credit score with no late payments reported in the last 12 months.

  • 1-2 unit primary residence only. Includes approved condominiums and PUDs. Investment property is not permitted for no down payment loans

  • Your debt to income ratios may not exceed 45% of your income.

  • No bankruptcy or foreclosure within 7 years of closing.

  • You are not required to be a first time home buyer

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.

zero down mortgage Prequalify for your zero down mortgage.

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