I am a first time homebuyer hoping to obtain a loan without using my savings as a down payment. Are there?

Asked by Kim, Sun Dec 30, 2007

still 100% financing options available in this market for someone with a credit score in the 700's?

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Patti Shawgo…, , Baltimore, MD
Mon Dec 31, 2007
There are absolutely 100% financing options available, as well as programs to help you with closing costs. These are my specialty.

Please take a quick look at these entries from my blog that detail what types of 100% financing are available as well ways you can get money for closing costs. The types of 100% financing that are available today have definitely been changing, and it's important to make yourself aware that there ARE other options besides just 100% financing on one loan with monthly mortgage insurance.



1 vote
Lissa, Home Seller, Waldorf, MD
Sun Mar 23, 2008
Hello Kim, FYI 100% finacing ch6668079
0 votes
Lenn Harley, , Maryland and Northern Virginia
Sat Feb 2, 2008
There are fewer and fewer mortgage compaies that will fund less than 5% down. Contacting direct lenders like the Chase Home Mortgage, Bank of America, etc. is a good place to start. Bank of America is looking for 5% down as of 2 weeks ago.
Web Reference:  http://www.homefinders.com
0 votes
Bill Wootan's…, , Waldorf, MD
Mon Dec 31, 2007
Sure there are - one you might try is Century 21 Mortgage at toll free 866-646-6322 (tell them that Team One at Century 21 H T Brown gave you their special number)
Or Neal Tipton at 888-396-8287 (Allied Home Mortgage Capital Corporation)
or at least now FHA has become popular again with only 3% down and lots of options of seller contributions - its worth a look today!

Good Luck

Bill Wootan
Web Reference:  http://www.billwootan.com
0 votes
Lewis Poretz…, , Annapolis, MD
Mon Dec 31, 2007
YES! In my opinion, assuming good credit, this may be the best time ever for a first time homebuyer. It is very easy to negiotiate seller help at this time. Make sure you choose a realtor that is experienced. The financing is the easy part.
Lewis Poretz
Open Mortgage
0 votes
Marvin EMarv…, Agent,
Sun Dec 30, 2007
There should be some options available to you. You really need to check with a lender. I recommend Ann Fisher of National City Mortgage. (Please mention my name.) Her contact info is below:

1350 Blair Dr.
Suite A
Odenton, MD 21113-0000
Phone: (410) 674-2300
Toll Free: (800) 443-2525
Cell Phone: (410) 960-9295
Fax: (410) 674-2341
Email: ann.fisher@ncmc.com

A link to her NCMC page is below:
0 votes
Cindy Maves, Agent, Fort Myers, FL
Sun Dec 30, 2007
Hi Kim:

There may be. There can also be seller help. The best thing way to find out is to talk to one. I can put you in touch with one if you'd like. You are under no obligation and it can be started with a phone call.
Web Reference:  http://www.northropteam.com
0 votes
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