100% Financing in Tooele Utah

It's been almost 2 years since the collapse of the first mortgage company listed on the implode-o-meter. Own it Mortgage (one of the first big boys) failed a little over a year ago, touching off the "official" mortgage crises. With so many out of the picture today (Washington Mutual being the most recent), it is easy to understand the increased documentation requirements, capped loan LTV's, and all but A paper loans becoming the norm. The latest casualty of this mess is now the 100% financing programs. The interesting thing is that the change didn't come from the lenders, but rather the companies that insure them. MyCommunity, HomePossible, and the Flex 100 are the latest programs to be essentially removed from the picture. Loans to 100% are still available to those who know where to look. FHA (although technically a 3% down program), can still, with a proper grant, essentially be closed with little to no money down. USDA is an option for those in a rural area (all of Tooele County), and VA still allows 100%. There is much more on this that I can't cover today, but please feel free to call and I will be more than happy to go over what is still out there and what is now needed to qualify your clients.

Number of lender who have shut their doors over this: 249

as always, if you jabe any questions, please don't hesiatate to call or e-mail me at 435-849-0212 or karl@karlmenzer.com

Karl Menzer

http://www.buyatooelehome.com/