Can you really get a 100 percent home loan me do payday loans do credit checks,? We all see ads for special financing and no down payment from regional builders and mortgage companies, but unless you are in the market for a new home be aware of the hype.
The mortgage companies are in a state of despair. For years, during the housing market boom, 100% financing was promoted heavily to under qualified buyers and first time home buyers who often jumped at the chance to get into a $600,000 home with income not high enough to pay for a $300,000 mortgage. The brokers made lots of money and so did the banks, but the direct mortgage borrowers with what is called a "100 mortgage" ate it big time.
Today we have an extraordinary bailout plan that has helped the banks only - not the mortgage brokers or loan me top ten payday loans direct lenders officers and only recently the homeowners. So the direct mortgage brokers continue to create new ways of marketing a 100 mortgage, and one is to follow the lead of the government.
Searching through the myriad of government rules and regulations some have uncovered ways of allowing new buyers to purchase homes with no money down. These are government-listed properties that have been foreclosed under government loan me direct payday loan online. They take a lot of work to locate, but generally are worth the effort.
Another area that has sprung up due to the lackluster economy is the 100 financing available to new home buyers from developers who have a backlog of inventory and need cash flow. These are generally bona fide offers that allow the developer to put in the required equity for a 100 mortgage from participating lenders.
If you are pre-qualified for a 100 percent mortgage or you are in the market for a new home and have a track record of good credit with steady income, then there may be a really good deal if you know where to look.
EJ Industries, Inc. | Specializing in Booths, Fixed Seating, and Millwork for the Hotel & Restaurant Industry Since 1942
1275 S. Campbell, Chicago, IL 60608 | Phone: (312) 226-5023 | Fax: (312) 226-5976 | firstname.lastname@example.org