What loan can I get with out a down payment?

I get this question every day. Considering a couple of years ago, we could get someone a zero down loan without much more than a name and a 580 fico score, it can be very frustrating.

Right now, there are still a few options available for zero down loans.

VA loans are available for Veterans. Today even the Reserves and National Guard qualify. This loan will go to 100% and allow the seller to pay the closing costs.

IHFA (Idaho Only) has a second mortgage program that will go behind their first mortgages to get to 100% combined financing. You need a 700 or higher fico, and it is needs based.

Note: If you're in another state, look at your "Housing Agency", they might have a similar program.

Rural Development Loans. You must buy in an "eligible area" for this program, but most counties in Idaho are entirely eligible. Here in the Treasure Valley, we have Star, Kuna, and Middleton as eligible areas. This loan doesn't have a minimum credit score, but the clients need good credit for r the last 12 months.

Lastly, FHA has a $100 down program for HUD owned homes. There are some nice bonuses for the agent and client. To see what homes are eligible for this, go to: http://www.tenmanagement.com/listings/property-list.do

There it is, 3 programs that go to 100% and one that only requires $100 down.

Right now is the best buying opportunity we've seen in years! Homes are selling for much reduced prices, the rates are low, and the first time home buyer can get a $7500 tax credit if they buy before July 30^th of this year. I am actually getting people into homes for less than what they're paying in rent.

If you need more information about any of these programs or want me to qualify your client, call me at 208-861-7579.

P.S. When you call, ask me about my "unused leads" system. It will double your business at no cost to you.