There are still Zero% down programs as well as others starting as low as 3%, 3.5%, 5%, and 10% but all of these either include PMI (Private Mortgage Insurance) or will have higher rates and more fees attached to them.
.....ZERO % down is the best percent down for most borrowers who:
1. have other Non Tax Deductible Debt that theyâ€™d rather pay off and want a bigger interest tax deduction too
2. don't have enough in retirement savings and need to diversify and invest in fully funding their IRAs, Roth IRAs, Annuities, mutual funds, etc.
3. may want to purchase more property as prices are predicted to go up 6% in 2013
4. may want to have the security of more money in the bank
Below are some of the best programs from A to Z available, including the all new Stated Income Alt Loans for Self Employed borrowers
After reviewing these programs below, please email me at Steve@pro-option.com with the ones you'd like more info about:
1) 100% LTV- VA - pay off debt at closing on a purchases too!
2) 100% LTV- USDA - 12 mo. into Chapter 13 BKâ€¦OK Too!
3) 99% LTV- FHA
4) 97% LTV- NEW- No PMI -No FHA 1.75% MIP Fee!
5) 95% LTV- NEW-No PMI!
6) 95% LTV- NEW-CONDO Loan
7) 90% LTV- NEW-No PMI -2nd Home
8) 90% LTV- New-Jumbo w/cc
9) 85% LTV- NEW- No PMI to Super Jumbo
10) 80% LTV- Rental Property
Stated Income Alt Loan programs
11) 80% LTV- to Super Jumbo
12) 80% LTV- FIX nâ€™ FLIP Invest. Prop. â€“ No min. credit!
13) 75% LTV-to Mega Jumbo
14) 75% LTV- Foreign Nationals-to Super Jumbo
15) 75% CLTV-after Short Sale, BK, Foreclosure to Super Jumbo
16) 70% LTV- Hard Money to Jumbo
17) Lot Loans / Land Loans Too!
It can be overwhelming. If you do not have a trusted mortgage banker, I work with several reputable ones in the state of Florida who are licensed nationwide. Feel free to contact me for their names for you to interview. Then when you are prepared to buy, I would love the opportunity to assist you locate your new home!
I would be glad to discuss all options with you.
There is FHA which requires 3.5 % down payment of the sale price.
Conventional which could be several different ones there is a 5 % down payment to a 20% down payment.
Then there is VA which is a 0 down payment but has a 2.5 percent funding fee
Are USDA which is a 0 down payment the home must be in a USDA area and there is a 2% funding fee. Please contact me if you have any other question.. Good Luck Lenee'