Virginia Mortgage Services provides 100% no money down
home purchase loans to allow a borrower to purchase real estate with
absolutely no down
payment! This product is great for
first time home buyers that
want to purchase but who have not saved money for a down payment. The
borrower is only responsible for $500 applied towards closing costs
which can come from a variety of sources including gift money, grants,
personal savings and more.
With a 100% no money down home purchase loans
homeowners who don't have 20 percent for a down payment and
don't want to pay
PMI can opt for a
piggyback loan, which is essentially a home
equity loan
or a fixed rate second
mortgage that funds a portion of the down payment.
With an 80-10-10 loan,
for example, the buyer contributes 10 percent of the home's price,
borrows 80% with a traditional mortgage and borrows another 10% with a
second mortgage. Similarly, the 80-15-5 allows the buyer to put 5
percent down and borrow the extra 15% via a second loan. With an 80/20
loan the home buyer borrows 80% with a traditional mortgage and borrows
another 20% with a second mortgage. The only money required would be
the closing
costs.
One advantage of this
route is that you can deduct the mortgage interest you pay on a second
loan. And, depending on how aggressively you pay off the second loan, a
portion of your payments will go toward building equity.
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New! 100% mortgage loans
available on 5/1 and 7/1 arms!
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Zero Down - 100%
80/20 Interest Only
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Fannie Flex
100% Home Loans |
Fannie
Flex 100%
Expanded Approval |
- 1st and 2nd
mortgage combination loan
- Super
low payments!
- Zero
money down!
- 2 year, 3
year, and 5 year arm loan programs
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- Zero
money down
- Condo-single
family home or townhome
- Excellent
credit
- 30 year
fixed loan program
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- Zero
money down
- Condo-single
family home or townhome
- Less
than perfect okay!
- 30 year
fixed loan program
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Within the top mortgage
brokers
in Virginia, we maintain relationships with over 300 direct national
mortgage lenders, making us your one stop shop for your home loan needs!
Contact us at Virginia Mortgage
Services today or give us a call at 804.282.8808,
for your 100% mortgage loan. Or start now by completing Virginia
Mortgage Services short and secure online application for no
money down home loans!
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