100% Bad Credit Mortgage

Buying a home using 100% financing home loan programs is as popular today as ever. There are still many program available to buyers with a bad credit history and for first time homebuyers. One of our strongest area's of expertise is in finding 100% financing loans to fit our clients with less than perfect credit. In today's market you will find that sub-prime loans, 80/20 loans, and other high risk loans are still being offered, however we advise avoiding these loans at all costs. The fastest way to get into trouble is with obtaining one of these high risk loans. Instead we prefer to offer much more secure 100% mortgage programs.



Highlights of our 100% Financing Loan Programs

  • 30 Year fixed rates
  • Rates between 5.75%-7.5%
  • No Prepayment Penalty EVER
  • Very low mortgage insurance coverage (8%-25% depending on program)
  • No need to pay off collections, charge-off, medical, or other derogatory credit items reporting on your credit report
  • Up to 6 % seller concessions allowed
  • Boarder Income allowed
 
    There are some huge advantages in obtaining 100% financing when purchase a home. The most obvious is that very little, if any, money needs to be taken out of your pocket. We can show you how to structure your loan offer so that the seller is paying all your closing costs and possibly even buying down your rate FOR you! The only money needed from the buyer with this type of loan is the cost of the appraisal (generally $300-$350). This allows you to keep all of your savings and other funds in your pocket.
 
    New laws now allow all mortgage insurance to be tax deductible. This law has virtually eliminated the need for high cost 80/20 loans which were once used to avoid mortgage insurance. Mortgage insurance is a premium paid when the LTV exceeds 80% of the total sales price. Our programs offer extremely low mortgage insurance which can now be deducted at tax time for even further savings to you!
 
    As you can see all of our 100% financing options provide security with a 30 year fixed rate that will never change on you. You will not have to worry about an adjustable rate that will come back to haunt you in a couple of years as so many people are experiencing today. The reason there are record numbers of foreclosures is because buyers did not know that these low rate fixed mortgage were available to them even though they have bad credit. They were told by their uninformed lender or broker that the sub-prime or 80/20 loans were there only option. If only they had come to us first!
 
    Interest rates will NEVER be above 7.5% on any of our 100% financing programs. The majority of our clients are enjoying fixed low rates in the mid to high 6% range even though they were first time home buyers or had bad credit histories. The only exception to this is if you have to go stated and cannot prove your income. If you have bad credit and need a 100% stated income loan you rate may exceed 7.5%, but we will ensure it is as low as the market allows!
 
 
Requirements for 100% Mortgage Loan Programs
 
  • 2 Years work history on borrower - preferably in the same line of work (co-borrower can have a limited work history and we still consider their income!)
  • 2 Years of rental or mortgage history  - mortgage late payments are okay but preferably not in the last 12 months (living rent free considered with letter from relative)
  • Limited income okay with our high debt to income 100% financing program! Our debt to income requirement goes as high at 60%
  • No assets required
  • First time home buyers welcome
  • 580 credit for most 100% finance programs.
  • Stated Income 100% financing with a 620 credit score
  • No minimum credit program available with compensating factors (such as 2+ years on the job or being able to show assets)
  • Self Employed borrowers must show 2 years tax returns
 
 
    Now you can see why we are the premier source for 100% bad credit home loan purchase in the U.S. Qualifying for one of our 100% mortgage financing programs is far easier than most people realize. Our goal is to help as many clients achieve the American Dream of homeownership as possible utilizing our 100% bad credit mortgage loans. Before you go anywhere else you owe it to yourself to contact us and allow us to show you how we can save you thousands of dollars by utilizing our 100% financing solutions!
 
   Our mortgage professionals are prepared to put their years of experience and our access to these bad credit mortgage loans to work for you! Contact US today or APPLY ONLINE for a same day response and let's start working together to help your American dream come true!