Zero Down Home Loans, Nashville, TN. Still Available!

Zero Down Home Loans in Nashville, TN are still available.

People ask me all the time if they can buy a house for no money down and the answer is a definitive “yes”. It’s still out there, it’s just not as “out there” as it once was. As I’ve written in previous articles, Sub-Prime loans have gone the way of the dinosaur and are extinct at this point. However, Sub-Prime mortgages weren’t the only answer to zero down home loans.

USDA offers Rural Development loans. Don’t let the “Rural” throw you, you don’t need to buy a 100 acre cattle ranch in BFE, TN to be eligible. In fact USDA would prefer you didn’t. Its intention is to build up rural areas by offering the incentive of zero down loans at low interest rates.

THDA used in conjunction with an FHA/VA/ or Rural Development loan is a grant program to moderate income households to assist in down payment money. It is not restricted by area like Rural Development, however there are income limits based on where you are buying.

VA loans are zero down loans offered to our current and former service men and women. Eligible service includes Veterans, Active Duty personnel, Reservist/National Guard, and some surviving spouses.

HUD $100 Down Program. Ok, Ok, I know I said Zero Down Payment but it’s pretty close! The HUD100 loan is $100 Down Payment loan on HUD eligible properties. This loan isn’t restricted by area and/or income, but by availability. As I wrote a few weeks ago, repossessions have affected all walks of life in the current recession. Foreclosed properties that had a prior government insured loans, such as FHA or VA, are being placed on the market for a $100 down payment for people that qualify for financing.

So there it is. There are still options for zero down(or REALLY close to it)home loans in Tennessee. To find out more about qualifying for zero down payment loan, call me and I will be happy to discuss your options in greater detail.

Zero Down Payment Home Loans in Nashville, TN is still available.