For true 100% financing (no down payment), there are two remaining loan types: Veteran loans and Rural Housing loans.
More than 27 million veterans and service personnel are eligible for VA financing. Even though many veterans have already used their loan benefits, it may be possible for them to buy homes again with VA financing using remaining or restored loan entitlement. CLICK HERE for an on-line reference guide. I have originated VA loans for 13 years. Call me and I will walk you through the process and I will order your Certificate of Eligibility.
This online pamphlet is designed to help veterans planning to purchase or construct homes, particularly those veterans who intend to finance with VA home loans.
USDA RURAL HOUSING LOANS
Don’t let the program name fool you. Many homes in our area are eligible for 100% financing with USDA Rural Housing loan program. There is an income limit associated with this loan product so call me to determine if your household income qualifies. CLICK HERE to see if a particular property address qualifies for this type of financing.
LOW DOWN PAYMENT OPTION
FHA has a low down payment of 3.50% of the sales price.
Acceptable documented sources for this down payment include:
Checking and savings accounts
401K or other retirement plan withdrawal or loan
Bonus income from employment
Gift from a relative or close friend
Loan from a relative or friend
Sale of a documented item such as a car, motorcycle or boat
Cash value from life insurance policy
Money awarded from a law suit
Grant from State or City when available.
DOWN PAYMENT ASSISTANCE
The State or City in which you want to purchase may have down payment assistance available. Please ask me for details.
- Louisville Kentucky mortgage rates (kentuckyusdaloan.com)
- Kentucky USDA, FHA, VA, and Refinance Guidelines for 2013 (mylouisvillekentuckymortgage.com)
- Kentucky USDA Rural Development Mortgage (kentuckyusdaloan.com)
- Louisville Kentucky mortgage rates (louisvillekymortgage.net)
- Ky FHA Guidelines for mortgagee and Bankruptcy Foreclosures (trulia.com)
- Realty Times – Get a HUD Home for $100 Down Get a HUD Home for $100 Down | Kentucky First Time Home Buyer Mortgage Loan (kentuckyfirsttimehomebuyer.com)
- Kentucky Rural Housing USDA loans updated guidelines 2013 (trulia.com)
- Louisville VA, FHA, USDA, KHC , Fannie Mae Mortgage Guide: Mortgage rates rise at fastest pace in 10 years | … (louisvillekentuckyvamortgage.blogspot.com)
- http://www.wlky.com/news/local-news/louisville-news/louisville-veteran-getting-special-help-to-renovate-his-familys-home/-/9718340/20649236/-/9x9csf/-/index.html (louisvillekentuckyvamortgage.blogspot.com)
- 100% Financing Zero Down Payment Financing Kentucky Mortgages and Home loans: Getting a mortgage after the foreclosure or short … (louisvillekentuckyvamortgage.blogspot.com)