The scenario above is for the purpose of displaying the most recent rates for the above type of loan. This figures may not represent what is offered today and or at the time of rate lock. Please request a quote for the most accurate info.
The 100% Zero Down loan program is a popular option these days for homebuyers!
Our Zero Down program keeps buyer’s offers competitive with the best market rates.
Fannie / Freddie DPA Combo
Fannie Mae - 97% LTV w DPA
Freddie Mac – 97% LTV w DPA
Scores Down to 620 FICO
FHA – 96.5 % LTV - 2nd TD – 3.5% CLTV
Owner Occupied Only
$822,375 – $1,581,750 (1-4 units)
Best 100% Combo Loan Program
Loan Purpose:
- Purchase
- Rate and Term Refinance
- Cash – Out Refinance
Property Types:
- SFR 1 Unit
- Two Units
- 3-4 Units
Income Docs Needed
- Last two pay stubs
- 3 months bank statements
- 2 years taxes
Zero Down Mortgage Loans are fully documented loans for those who can show their source of income in the form of paystubs or 1099s and federal taxes.
Loan Type Available
- 1st loan – 97% LTV – 30yr fixed & 2nd loan – 3% – 15 Yr fixed
- 1st loan – 96.5% LTV – 30yr fixed & 2nd loan – 3.5% – 15 Yr fixed
- 1st loan – 100% LTV – 30yr fixed & 2nd loan/ DPA – 3% – 15 Yr fixed
The Zero Down Mortgage program will combine the lowest rate first mortgage available with a combo 2nd loan that closes together with the first loan. These loans offer an excellent opportunity for homebuyers to maximize their buying power.
Debt Ratios
- 35% max full doc
- 45% max w bank statements
A home loan amount that is higher than the conforming loan limit($484,350 in most US counties and as high as $726,525 in some high-cost areas), is generally considered a Jumbo Loan. If the loan amount exceeds $1,000,000, it is a Super Jumbo Loan.
LTV’s & Loan Amounts
- 50% to $2,000,000
- 60% tp $3,000,000
- 70% to $4,000,000
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Down Payment
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Reserves
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Benefits
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Best Features
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Appraisal Requirements
A home loan amount that is higher than the conforming loan limit($484,350 in most US counties and as high as $726,525 in some high-cost areas), is generally considered a Jumbo Loan. If the loan amount exceeds $1,000,000, it is a Super Jumbo Loan.
Notes:
Self-Employed Mortgage Loans are Non-Conforming loans that offer enhanced mortgage solutions and higher limits for loan amounts above the conforming loan limit of $548,250 for most U.S. counties.
Q & A
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