Why Is It So Hard To Find The Low Down And Zero Down Payment Home Loans You’re Always Reading About?
Some Excellent Home Loan Programs
Today there are more than 200 different types of home loans; some with zero down and some extremely low down payments and low monthly payments.
Most mortgage companies typically use 3 or 4 traditional types of home loans – usually with higher down payments.
MONEY SAVING TIP: To see for yourself, try calling any real estate or mortgage company and ask how much money you will need to buy a $140,000 home. They will probably tell you that unless you are a Veteran and can get a VA loan, you will need $8,000 to $10,000 to buy a home. This just isn’t true.
Then why do they say that?
Because most mortgage lenders and real estate agents don’t even know that special conventional and government home loan programs exist!
Special no and low-down payment home loans are not offered by all lenders. On top of that, it’s hard to keep informed about all the different rules and loans offered by all the different home lenders. Big mortgage and real estate companies have a hard time keeping their agents up to date about the many no and low down payment home loans available.
Many Big Mortgage and Real Estate Companies Consider Special Home Loans an Annoyance
Some companies feel that all the regulations and paperwork involved with no and low-down payment home loans are too much “fuss and muss”. Besides, they’re selling enough homes without using these special loans, so why bother?
Another problem -- some of these special home loan programs come and go. Some are offered for only a very limited time. When the funds run out, they’re gone. By the time many lenders and agents become aware of these great home loans it’s too late!
MONEY SAVING TIP: There are many fine home loans to help you buy a home for little or no down payment. At any given time there may be more than one loan program for which you qualify. These loans can save you thousands of dollars of interest and give you a down payment of ZERO, or close to it.
I Was Told That I Earn Too Much Money To Qualify For A Special Low Down Home Loan
Some of these great home loans have income limits, but they’re all different. Some “limits” are very high. Other programs have NO LIMITS. It just depends on the circumstances. We will tell you the best programs based on your personal situation.
MONEY SAVING TIP: There are many different types of special loans. Some of these loans come and go. Others are always available. Each has different rules and requirements. You may qualify for one or more of these loans. The only way to find out what is available is to consult with a knowledgeable Mortgage Advisor.
Click here to find out if you qualify to buy a home for no money down.
The “Problem” with Government Down Payment Assistance Home Loans:
The problem with these special home loans is that they come and go in a fairly short “window period.” For example: a $600 down payment home loan program may become available in April and be out of funds by May. It could be another 3 to 12 months before the program is offered again. To obtain one of these loans, you have to know about them before the funds are gone – and act fast! Additionally, many include penalties if you sell your home within an abitrary time frame.
MONEY SAVING TIP: The average mortgage banker or real estate agent in a big company, busy with all the phases of realty, often doesn’t learn about these money saving home loans until it’s too late!
You Can Know About New Home Loan Programs Before Most Lenders and Real Estate Agents.
We make it our business to know about every special home loan program available. Before a new home loan program begins, we learn everything that we can about the program – then we tell you.
We work with many of the major national mortgage investors and home lending agencies in Arizona to find the best programs available. We know where the best home loans can be found.
MONEY SAVING TIP: At any given time there may be several low or zero down payments programs available for home buyers. The loan program for which you may qualify depends on your employment, family size and income.
If you want to buy a home the first thing you need to do is find the best loan program to fit your needs. We do this for you without obligation.
We Specialize In Only One Area: Helping You Find A Great Home AND a Great Loan.
We make it our job to help people get the best loan program for their needs.
Our job is:
- To seek out and learn about every zero and low down payment government and private home loan program.
- To keep you fully informed of the home loans for which you may qualify.
- To help find the perfect home loan for you.
- To help your Real Estate Agent negotiate the best deal for you!
We have helped thousands of home buyers own their own homes in Arizona. Some with very low and zero down payments. We can do it for you, too.
Right Now There Are Some Excellent Home Loan Programs!
The Super Saver Zero Down Home Loan
This special program offers financing to 103% of the value of the home you want to buy. Therefore, there is no down payment and you can finance closing costs of up to 3% of the purchase price. You CAN buy a home with NO down and NO cash at closing. Some specifics:
- There are NO income limits.
- Loans available up to $300,000.
- Total monthly payments cannot exceed 45% of your gross monthly income.
- Home ownership classes are not required.
- Excellent credit is NOT required.
- Total cash needed for most transactions is under $500.
[back to top]
FHA First Mortgage Loans
May be used by anyone at any income level as long as the borrower is going to live in the home as his or her primary residence.
- There are no income limits for FHA loans.
- Minimum down payment requirement is 3 percent (or less) of the purchase price of the home in most cases.
- FHA sets maximum loan amounts for homes using FHA financing. These loan limits vary from county to county. Call to see what the limits are in your target county.
- FHA allows approved down-payment and closing cost assistance programs to be used to come up with the funds needed for FHA’s down payment and closing costs.
- FHA allows all or part of the down payment and closings costs to be gifted from a blood relative or non-profit agency (such as AMERIDREAM Charity, Inc.).
- Monthly housing payments should not exceed 29% of gross monthly income and total monthly payments should not exceed 41% of gross monthly income.
- Optional home-ownership class is available.
[back to top]
Fannie Mae Flex 100
- Zero down payment.
- Maximum loan amount is $417,000.
- No income limits.
- Borrower needs to put at least $500 into the transaction
- Seller can pay up to 3% for closing costs.
- Excellent credit is required.
[back to top]
Freddie Mac Affordable Gold 97 or Fannie Mae Flex 97
- Minimum down payment requirement is 3% of the value of the property.
- Maximum loan amount is $417,000.
- No income limits.
- Down payment can come from many sources, such as an unsecured loan, savings, gift from relative, or grant.
- A home-ownership class is required to obtain the loan.
[back to top]
These are just a few of the programs available. We will help you determine which of the many programs available is right for your needs.
Qualifications:
To qualify for any of the above home loan programs, you MUST have full-time employment and a record of paying all your bills and rent (or house payments) on time for the last 24 months. The higher the loan is against the sales price, the higher the risk is for the lender...borrowers MUST have excellent credit!
Do You Qualify?
Perhaps you feel that you can’t qualify to own a home. Many people never thought they could own a home until they discovered this TucsonLendingTeam.com mortgage service. These folks now live on quiet streets in their own beautiful homes with family rooms, private back yards and garages. All because they picked up the phone and called us.
You can own a home, too.
Click here to for an on-line approval!
Just pick up the phone and call us TOLL FREE at
(888) 744-5100 (during Arizona business hours)
Todd Abelson ext. 17160
make sure to ask for Todd Abelson or complete my contact form !
All we need is some basic financial information to see if there is a home loan program that fits your needs. We will do everything we can to help you find the right home loan at the lowest interest rate and payments. | 
