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Mortgages Made Simple, Relationships Made Lasting |
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30 Yr Fixed CALL 15 Yr Fixed CALL 30 Yr Jumbo CALL 5 Yr Arm CALL Assumptions |
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Low Down Payment Mortgages
As recently as 2007, it was relatively easy to obtain 100% financing for a mortgage loan. However, all of the troubles in the real estate market of late have taken away virtually all options for 100% financing, leaving borrowers with the need to have a down payment. FHA allows for a 3.5% down payment, and some conventional loans will allow for a 3% down payment. To qualify, a borrower must have a very good credit score and satisfactory debt-to-income ratios. VA loans still allow for zero down payment, but you must be a veteran of the armed forces to qualify. Without question, the zero down payment loans of the past few years are virtually non-existent now.
