looking for 100% financing in declining market...does it exist still? I was told I make too much money to

Asked by m willingham, 92563 Fri Feb 1, 2008

qualify for government program. I have a 633 fico but can qualify full doc.

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Don Tepper, Agent, Burke, VA
Fri Feb 1, 2008
Yes, it still exists. I got a rate sheet from a lender this afternoon:

"100% Financing up to $417K. Designed for the 1st time homebuyer with no down payment! 30 years fixed. 6.000% 1+0. 6.250% 0+0. Interest only & buy-down allowed. Gifts allowed for down payment & closing costs. 100% financing. Minimum credit score 620. 97% financing. Minimum Credit score 580. Max seller contribution of 6%. Non-occupant co-signer allowed. Household income limitations apply. PMI or lender paid PMI required."

That's from a reputable lender. If he's offering it, I'm sure others are.

Hope that helps.
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