100% LTV Mortgages
100% loans mean that the lender will loan 100% of the purchase price or appraised value (whichever is less). This usually does not mean no closing costs. A lot of the time we can have the seller pay the closing costs. Contact Us to see how to do this.
Today we have two products that are able to finance 100% of the purchase price of your home. The home must be being purchased for your primary residence for both of these programs.
Veterans Affairs (VA)
USDA Guaranteed Rural (USDA)
These are Government loan programs that do not have any mortgage insurance. They normally have a funding fee that can be financed in addition to the purchase price of the home.
They require full documentation of your income, assets, and employment history.
Both of these programs are available for Single Family Residences and Manufactured Homes.
The VA program allows for new and used multi-wide Manufactured Homes on permanent foundation. The Manufactured Home must have been built in 1977 or later.
The USDA program will only allow a brand new Manufactured Home to be purchased from USDA approved dealers.
The USDA program will also allow some of the closing costs of the loan to be included in the loan amount if the purchase price is less than the appraised value of the home.
Please Contact Us for more infomation about how we can finance your home purchase with the minimum out of pocket cost to you.
