Gone are the days in which every lender offers no money down mortgages or 100% home loans.  No money down home loans were all the rage 5 years ago before the housing bubble exploded.  Since the subprime mortgage debacle, you need to be a veteran, eligible for a VA home loan or get creative.  VA home mortgages are without a doubt, the best home financing options on the U.S. market today.  The VA loan program enables you to buy a home with no money down or refinance with no equity.  Aside from the USDA loan (agriculture mortgage), VA loans are the only home buying opportunity for Americans that requires no down-payment.  100% mortgage financing can be complicated if you are talking to a loan company that has not kept up with today’s guidelines.

Buy a Home with No Money Down

100% loans is a term used that refers to mortgages with zero down on a purchase or no equity needed to qualify for mortgage refinancing.  VA mortgage rates are available at phenomenally low interest.  For example, today a VA mortgage is available for 3.875% with a fixed interest rate on a 30-year term.

 

100% Home Loans with Fixed VA Rates starting at 3.875%

Today, even getting creative has its limits.  100% loans are hard to find unless you already have government loan under the VA or FHA loan program.  It’s called the streamline refinance and besides that you need to be current on your mortgage for the last 12 months.  Streamline loans enable homeowners to lower their mortgage rate quickly and cost-effectively as long they are not seeking cash out.

Streamline Loan Highlights

• 100% Refinancing with No Appraisal
• Stated Income with No Income Documentation Required
• Refinance with No Equity Needed
• Flexible Guidelines with Low Credit Scores Accepted