Posted on: 25th Feb, 2014 04:43 am
I want to purchase a foreclosed home soon. What type of mortgage loan should I take out? Can I get a loan with zero downpayment?
USDA Rural and VA loans are both 100% financing - To get the USDA loan your household income must be below their limits for your area asd the home must be in an approved rural community. For VA you must have served in the military and have a certificate of eligibility. The next best product for low down is FHA at 3.5% then Conventional loans at 5% down.
Brian Barnes
ENG lending
Nationwide Lender
Brian Barnes
ENG lending
Nationwide Lender