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Jeanne Said:

I want to get a zero down mortgage in Arizona.?

We Answered:

You are wanting to get a loan which currently isn't being offered much any more. These kinds of loans are mostly the cause of the current crisis. If, and that is a big if, you can get a zero down mortgage with the incredibly low monthly rate, you will have a huge interest rate. Talk to some mortgage consultants if you don't believe me, good luck you silly dreamer.

Jean Said:

Is there any programs for property managers to purchase investment properties with zero down mortgage?

We Answered:

Not any more....the days of zero down are pretty much gone after the banks took such a bath by issuing them to folks who never should have had them.

Lucille Said:

I make about 28K/Year, can I afford a 95K mortgage with ZERO DOWN?

We Answered:

Look into MyCommunity mortgages...it's zero down...but you need a 620 to avoid HIGH pmi costs.
it's a 1st time home buying program.

Marvin Said:

Can I get a zero down mortgage?

We Answered:

The type of loans you're looking for are available but only from non-profit state housing lenders. They're able to offer 100% financing because they are backed by grants from the government. They usually have slightly tighter requirements to qualify and for inspections but are great programs to be involved in. One great perk to them is they do not sell your mortgage after you close like major banks do.

The type of 100% financing our local state housing lender offers is a FHA loan for 96.5% of the value of the house. Then, they give you a small second loan for 3.5% of the value to cover the required 3.5% down payment needed for FHA. Banks can't offer these types of programs so you will only find it through a non-profit state lending agency. The programs are sometimes only available to first-time homebuyers but that should work well for your situation. However, there are usually income limits that you might not meet with your new salary. You would have to read the program requirements to find out.

These kinds of programs aren't right for everyone but can work for the right situation. Many people look down on these loans as they think they created the current housing market problems but the key is to be well informed and make sure it works well for you.

However, with your new high salary it wouldn't take you long to save the FHA required 3.5% down payment depending on the price range you would want to look in. If you make some sacrifices for a few months you should be able to avoid 100% financing altogether.

To see if these types of programs are available in your area, type your state’s name along with the words “housing” or “housing lender” (without quotation marks of course).

Good luck and congratulations on your new job!
Brit

Agnes Said:

Is it hard to get zero-down or 3 percent down mortgage loans now?

We Answered:

Due to the buy and bail guidelines it may be a little more difficult for you.
When you own a home and want to convert it to a rental to buy a new primary residence you will need to qualify for the new loan carrying both mortgage payments without the proposed rent unless you have 25% equity in the rental property or you can document a history of receiving rental income with tax returns. In addition you will need around 6 moths reserves for each mortgage payment.

Kyle Said:

Know any good zero down mortgage companies?

We Answered:

Have you tried CountryWide, Home123, Sterling Bank or LendingTree.com? If you were a veteran I would recommend New Freedom Mortgage!

Sheila Said:

How can a middle income working family get a zero down payment mortgage loan?

We Answered:

The only 2 programs are that have zero down one is the VA and its only for military and the other is USDA for rural locations, otherwise you will need 3.5% down for FHA and 20% for conventional