Home Buying in Oceanside>Question Details

Eva, Home Buyer in Oceanside, CA

Does 100% financing still exist?

Asked by Eva, Oceanside, CA Sun Jan 25, 2009

I live in California and wondering if 100% financing still exist for first time homebuyers?

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Answers

4
Joan Wilson’s answer
I have heard of some instances, but you have to have excellent credit and it is rare. The $8,000 credit helps too.

Best of luck,
Joan Wilson –Realtor, Ecobroker, SRES, Reo & Short Sale Specialist
Prudential
760-757-3468
0 votes Thank Flag Link Wed Jun 24, 2009
Eva,

I am a mortgage broker in Irvine, and I can tell you that there are a couple pf programs that have 100% finanicing still available.

If you were in the military, a VA Loan would work out well for you.

Also, there are SEVERAL cities in San Diego County that USDA is eligible for as well, with 100% finanicing.

I would recommed you sit down with a trusted Mortgage Broker and discuss your options.

I am a mortgage broker. If I can be of service, please let me know!

Martin Smith

Precision Funding
877-238-6324 Ext 704
513-536-7184
877-238-6324 FAX
MSmith@PrecisionFundingUSA.com
http://www.PrecisionFundingUSA.com
0 votes Thank Flag Link Mon Jan 26, 2009
Hello Eva,

I believe that 100% financing, at least here in Maine, still exist for first time home buyers through USDA-Rural Development and I would suspect that it is available elsewhere. This loan also depends on the area you're looking in and if they will do the financing. I would check out their site at http://www.usda.gov and search for your local office.
Best Regards,

Deja Lett, Associate Broker, Realtor
Assist 2 Sell Home Team Advantage
13 Park Street
Saco, Maine
207-282-0990 Ext. 403
Web Reference: http://www.hometeamadv.com
0 votes Thank Flag Link Mon Jan 26, 2009
If you have some military background, a VA loan offers 100% financing.

I am not aware of any other programs which can do it. A lot of the down payment assistance programs which were once available, no longer exist. However, this is a great question for a loan officer who may know of some other possibilities.

Please contact Stacy Hunjadi of Met Life Home Loans at 760-479-2836 or shunjadi@metlifehomeloans.com to confirm.
0 votes Thank Flag Link Sun Jan 25, 2009
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