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No Money Down Home Loans to 100%

The Home Loan Magician offers 100% home financing with no money down loans for qualified borrowers. Although the guidelines have tightened recently, we still provide borrowers with zero down purchase loans for new homes and 1st time homebuyers. Zero down mortgages remain attractive to new house buyers, but VA and USDA are the only government sponsored programs for people to buy a home with no down payment.

(1) The "piggyback loan," in which a combination of an 80% first and a 20% second mortgage eliminates the need for any down payment while preventing the bank from requiring you to pay mortgage insurance.

(2) The "option ARM" home loan use to go to 90% ( with an 80% 1st mortgage and 10% 2nd mortgage) Borrower paid less than the interest due for a limited number of monthly payments but the lender adds to the principal balance of the loan. (We do not suggest the negative amortization in most cases.)

(3) The FHA mortgage allows borrowers with poor credit to only to invest 3.5% into the down-payment (FHA charges Mortgage insurance premium)

 

 



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Home Loan Magician, 203 Washington St, Salem Massachusetts 01970
This is not a solicitation for a home loan or a commitment to make mortgages under any particular terms. The HomeLoanMagician.com does not offer home loans with no down payment. Certain restrictions apply. Home loans are subject to final underwriting approval.