Zero Down Home Loans - VHDA Home Loans - FHA Home Loans - Conventional Home Loans - VA Vendee - VA - 203k Home Loans
Here are some of the various home loans available to buyers today. If you are interested in any of these loan products, contact me or any of my preferred lenders for a free credit check and consultation.

VHDA Zero Down Mortgage:  This loan product is meant for first time buyers or buyers who haven't owned a home in the past 3 years. Requires a minimum 620 credit score, online home buying class, and 2 month's mortgage payments in savings or checking account at time of closing. Closing costs are embedded into the mortgage and when sellers can contribute to the buyer's closing costs, most of my VHDA buyers have purchased a property with just $500 down and brought as little as $28 to the closing. For additional information about the Virginia Housing & Development Authority, click here.

Zero Down VA Loans for Military Veterans: VA home loans for veterans is another "zero down" home loan product that allows active and inactive veterans to purchase a home with very little out of pocket expenses. When the home seller contributes to the buyer's closing costs, most of my military clients have purchased a $250,000 property with just $500 down and they brught less than $30 to the closing table. Minimum 620 credit score required.

FHA Mortgages: Requires 3.5% down payment ($7,000 down on a $200,000 mortgage), however FHA mortgages offers the lowest interest rate available. Remember that with zero down loans, the buyer pays a slightly higher interest rate for not having to place a lot of money down. Credit scores below 620 are sometimes acceptable, as long as monthly debt is low (low car payments, low credit card balances, no student loans, etc.). Option to consolidate loans can increase your loan amount.

One of my preferred lenders - RBC Bank - has their own in-house zero down home loan product. If you're considering purchasing a home within the next 6 months, contact me or any of my preferred lenders for your free credit check.  There's never a cost or obligation to see what you qualify for but  becoming pre-approved for a mortgage before house-hunting is a must! Please download the Home Buyers Guide Book from HUD for additional home buying tips.