NO DOWN PAYMENT LOANS
The NO DOWN Payment loans allow you to finance the complete
purchase price of your home, plus a certain percentage of
your closing costs - up to 107% of your home's value. You
even get to avoid the impound accounts and mortgage insurance
that are typically required with low down payment loans. Consequently,
despite the relatively high mortgage amount, you can end up
with a lower (and more affordable) monthly payment. Because
of the flexibility that these loans offer, rates for no down
payment loans are typically slightly higher than those for
loans where a down payment is required. However given today's
extremely low mortgage rates, Zero Down Plus rates are still
very attractive from a historical standpoint. In addition,
if mortgage rates remain at their current levels, you can
always refinance to a lower rate once rising home values have
increased your equity.
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