Hundred Percent Mortgages



Buy or refinance your home mortgage now with no down payment and no cost to you, using a hundred percent mortgage obtained through a home equity or new loan. For a limited time, we're offering zero and low interest rate on both 15-year and 30-year loans to qualified borrowers so that they can own the home of their dreams. We're in the business of offering conforming loans under Federal National Mortgage Association and Federal Home Loan Mortgage Corporation guidelines. These entities, otherwise known as Fannie Mae and Freddie Mac, have been given money by an act of Congress so that they can buy loans and provide affordable housing.



The US government has done this because it wants you to have affordable housing. You don't to continue to rent your entire life, throwing money down the drain, when you could be building equity as a homeowner. We have both fixed loans and variable rate loans, depending on your financial credit history and needs. If you don't qualify for a hundred percent mortgage, you might qualify for an 80/20 mortgage, which is essentially two loans - one loan for the house, and a second loan to make the down payment.

Which loan you qualify for will depend on a few things, including your income and your credit score. If your credit score is greater than 700 and you are employed with sufficient income, you'll have no problem getting a loan. If your credit score is lower, you can still qualify but the interest rate will be a little higher on your monthly payment. We'll review your payment history, going over what your needs are and what you are able to pay in the future. This will include a review of your present and future income, so that you are assured that you will be able to meet the payments without defaulting.

The federal government's role in the mortgage industry, through the Fannie Mae and Freddie Mac mortgage agencies, has been to insure that low income wage earners be given the opportunity to purchase affordable housing. Banks that are in the business of mortgage underwriting make then loans, then sell those loans to one of these two agencies. Alternately, the bank has the option of carrying the loan on it's own books, or of securitizing the loan into a package of other loans and selling it.