Although the 100% financing/Zero down payment mortgage has gone the way of the dinosaur, this valuable mortgage program is now available once again for designated areas of Arizona.
What kind of loan do you get? How about a 30 year fixed rate where you need not worry about the rate going up during the life of the loan. There are no mortgage insurance and no minimum credit score requirements either. Other benefits include the substitution of "non-traditional" credit when traditional credit is not available. What that basically means if you have no or little credit history, you may be able to submit "alternative" sources of your repayment history such as 12 months of your utility bills payments and rental payments.
And by the way, this program is not limited to first time home buyers, so anyone can apply!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment