100% financing - are there any left?

Yes.

If you are a veteran we still have VA Loans that are 100% financing. We appreciate those that serve our country and the VA loans are worth a look when putting anywhere from 0 -15% down.

If you are not a Veteran then the one program that is left with a good interest rate is the USDA Rural Development Guarantee program. This is a GREAT program! It does have property restrictions and income limits. It does not, however, have monthly mortgage insurance. There is a 2% guarantee fee that can be included in your loan amount.

Property restrictions: This program is geared towards small communities. Unlike what the name infers, it is really meant for small rural towns. This program does not want a working farm. In the Midwest it works well, since we have many small towns. There is a web site that the address can be entered and you will find out if the area you are looking in qualifies for the program. The home has to be in pretty good condition. This loan is NOT for the fixer upper.

Income restrictions: The income is determined by the county you are buying the home in. If there are two people in the household, income from both will be used, even if one is not on the loan. It does take into account the number of people living in the house and if there is daycare expense, this will be taken into consideration also.

Credit: This program likes a 620 mid score, but will look at those under that to a 580. If you do not have any credit, this program will also allow you to build your credit with non-traditional credit lines. It does not however, like derogatory credit.

Two great programs that still allow for a buyer to finance 100% of the purchase price.