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Does anyone know if mortgage lenders still finance 100% with no money down, and no money for closing costs? I know they used to offer these types of things a few years back…

3 Thoughts on question regarding mortgages?
  1. Help Is Here!
    February 6, 2014 at 4:07 pm

    Only if you qualify for a VA or USDA loan.

    FHA requires 3.5% and conventional is going to be anywhere from 5 % and up.

  2. acermill
    February 6, 2014 at 4:16 pm

    Those types of mortgages are history. FHA still offers a 3.5% downpayment mortgage. Check with a local lender to see if you qualify for that.

  3. Ron
    February 6, 2014 at 4:21 pm

    “Help is Here” is correct. VA and USDA are the only 100% loans left. You need military background for VA. To go USDA the property must be in an aligible area. Check here….

    http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp&NavKey=property@11

    You also must be within the income guidelines. It is the best mortgage product still on the market though if you can get it. You can even borrow your own closing costs if the appraisal is enough to support it.

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