lender gives the 5% to deposit how this affect the vendor and how this work it's not 100%
2007-02-26 05:48:19 · 7 answers · asked by preacher_no2 1 in Business & Finance ➔ Personal Finance
yes you can get 100% mortgage but its expensive and many of the offers are not around.
2007-02-26 05:56:14 · answer #1 · answered by tink 4 · 0⤊ 0⤋
There are 100% programs available for mortgages today. Contact a couple of mortgage brokerage companies and speak to someone who has at least 10 years experience in this industry. Have them send you a good faith estimate (GFE) and compare the total closing costs as well as the total payment. Watch out for the good faith estimate that does not show all of the charges of the others. Some brokers try and get business by not disclosing "all" of the customary charges. If you are not certain, go to your bank and have them tell you what are the customary and normal charges in your area. DO 'NOT' allow anyone to pull your credit until you have picked the one who you are going to deal with. Every time your credit is pulled your score will go down. Contrary to the stories that some brokers will tell you that all credit pulls in 30 days for the same reason (i.e. a mortgage) will not affect your scores. YES, they will lower your scores. I hope this helps.
2007-02-26 06:19:26 · answer #2 · answered by ? 7 · 0⤊ 0⤋
You can get a 100% mortgage. The way it works is that you get a traditional 80% mortgage and then a 20% home equity loan. You can research on the net and see what you find. Try the below website, they have that specific product
2007-02-26 07:09:33 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If you are a first time buyer there are programs to help pay up to 20% including closing costs.Ask your agent or mortgage broker for details.Also try inquiring at your local "HUD" dept.
2007-02-26 06:13:17 · answer #4 · answered by kimberlyboo1 1 · 0⤊ 0⤋
I would assume the seller would tack on a few thousand dollars to cover this expense. This way the new home owner gets in and the seller has his money. It all works out for everyone.
2007-02-26 05:52:17 · answer #5 · answered by flower 6 · 0⤊ 0⤋
some company's give you a full 100% mortgage,not like when i got mine it was 10%, good luck with the whole thing its the 2ND biggie st thing you will do in your lifetime
2007-02-26 05:56:36 · answer #6 · answered by star ray 3 · 0⤊ 0⤋
Check out the free evaluation form at
www.totaldebtsolutionsllc.com
You may want to check on a seller carryback as well if available.
2007-02-26 08:10:25 · answer #7 · answered by CALIFORNIA GOLD 3 · 0⤊ 0⤋