There are actually three 100% financing options we have right now for a mortgage.
…VA, USDA, and we actually have a 100% option on FHA now.
FHA is a 3.5% down product, but we have a program that takes care of the 3.5% down payment for the borrower.
This is an unusual program for FHA.
If you ask me “what’s the catch”, here it is…
You will pay a higher rate of interest for this program, and you will need a healthy seller contribution towards the buyers closing costs to complete the transaction.
If you have the seller contribution it can be a viable option for a purchase loan.
That’s it for today!
Have a good day! …and thanks for reading.
Brett
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