can you get a 100% mortgage?

Answer 1

Yes, but there's a hitch.
If you go conforming, be ready to pay PMI, unless you can get around it in a few different ways.
You can do an 80/20, but the closing costs are higher because you're closing two loans.
You can get LPMI on a 100% one loan.
Another way is to go Alt-A or subprime, but those guys just really tightened up their guidlines.

Answer 2

Yes you can, but only with SOME lenders, not all. Many lenders will prefer to give 100% mortgages to second time buyers, or people with at least a bit of money behind them...but if you had money behind you, then you wouldn't need a 100% mortgage...so catch 22 methinks. You have to have excellent credit to get 100% mortgage, and you'll still need the money for solicitors fees/stamp duty etc, so if you can raise that, then you may aswell try and get at least 5%, because then you get more choices of lenders, and can therefore negotiate a better rate.

Answer 3

Yes, there are lenders out there who will still do it as low as 600 mid credit score. This is a full doc loan, with no mtg insurance. Yes, we subprime lenders are taking a hit these days so what is here today, may not be tomarrow! You can also do this conforming and it will have Mtg insur, however, that is now tax deductable. My company is wholesale and we dont deal with the public but I deal with 2000+ loan officers on a regular basis and could give you a referal if you needed one.
Good luck

Answer 4

Yes. I got mine through National City Bank. Very low interest rate, and my credit isn't perfect -- just below 700. I did have $15,000 in the bank (for improvements) that they verified, and I do pay PMI.

Answer 5

Yes Abbey National are doing them.

Answer 6

Yes, but I wouldn't if I were you. Haven't you heard of negative equity?