3 100% Financing Mortgage Programs, Plus 1
1. USDA Home Loans
USDA mortgages offer home buyers 100% financing. They aren’t just for farms either. Buyers may be surprised to find how many well built up areas actually qualify for these home loans today. Qualifying is also more akin to FHA rather than conventional so it easier for many buyers to get approved for.
2. VA Home Loans
Veterans’ home loans have provided members of the military and their families, low rate, easy to qualify for 100% mortgages for years. You wil need a Certificate of Eligibility to get approved but this often neglected financing option if well worth looking into.
3. Transactional Funding
For real estate investors flipping houses transactional funding can offer up to 100% financing plus closings costs without an appraisal or any income, employment or asset verifications. The catch is that you must already have an end buyer lined up but it still offers an incredibly low risk and speedy way to fund flips for quick profits.
Plus 1: FHA Loans
While FHA mortgages by themselves aren’t true 100% financing loans, they do mean low down payments and easier lender guidelines. Plus they can often be combined with local and state Down Payment Assistance Programs to achieve 100% financing. In many cases these additional funds are given as grants or are free of re-payment obligations providing buyers stay in the home for a certain period of time.