100% financing • $0 down
About six years ago I wrote the below article... not much has changed since then.
VA loans and USDA loans are still the 2 programs that Lenders are referring to when they advertise "No money down!" or "100% financing". It's a great headline to get you to inquire with the Lender and from there they hope to get you into a program. Any program.
100% • There is another loan program available if your household income is under 115k. Most of the Montgomery County area (and MD) is eligible. No mortgage insurance, and no 2nd loan. Of course good credit is required. Don't forget in most scenarios there is still $ you will need to cover closing costs and/or have in reserves after closing. It is possible to minimize this,…