Zero Down Home Financing – No Money Down Mortgage Loans
Zero down home financing helps you buy a house with little out of pocket expense. Instead of depositing $60,000 to $20,000 to get in your home, the most you will pay are closing costs of a few thousands. No money down can also help you buy a vacation home without completely depleting your investments.
When To Pick A No Money Down Mortgage
A no money down mortgage is a viable option for many people. For one, you can get into a house for about the cost of rent. You can hold onto your cash for moving expenses rather than a large down payment. For those looking to buy a vacation home, zero down helps you keep your assets liquid, not needlessly tying them up in a property.
Choosing Your Zero Down Mortgage Loan
Zero down mortgage loans come with two different terms. The most common zero down mortgage finances just 100% of the homes price. All closing costs and application fees are still required.
The other zero down mortgage includes fees with the loan up to 3% or 5%. Since the principal is over the homes value, these types of loans are harder to qualify for. In most cases, you...
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