100% mortgage still exist?

Not sure of income requirements, but I know of the Rural Home loan for first time home buyers that finances at 103%. It also has the perk of no PMI insurance.

Not sure of income requirements, but I know of the Rural Home loan for first time home buyers that finances at 103%. It also has the perk of no PMI insurance.

Income limits for program in Walton County.

Section 502 Guaranteed Rural Housing Loan Program
Maximum Adjusted Household Income for Selected State and County : $73,600.00
Section 502 Direct Rural Housing Loan Program
Maximum Adjusted Household Income for Selected State and County : $42,650.00

Call Jayne with Premier Mortgage 622-0096. She has several outstanding programs to offer you and yes 100% loans are still available.

Francesca Gage
The Beach Group

This is good to hear. Our daughter and son-in-law (as of 6/19) want to buy a house so she can have room for a studio (she does freelance graphic design, portraiture, photography, and websites). But they don't have money for a down payment.

We'll look into it!

Wait a minute....isn't this part of the problem we have been seeing in the mortgage handout industry????

It is confusing how someone can afford a $500,000 house and have no debt doesn't have down payment.

It is confusing how someone can afford a $500,000 house and have no debt doesn't have down payment.

It was just an example.

But like a majority of americans, home owners have become upside down or breaking even when a sale is forced.

In other words... if you bought a home a few years ago- Put over 100k down. Sell it in 2010 and hope you don't have to bring cash to closing due to depreciation.

This would leave a qualified buyer (credit wise) with no money for next home. A buyer would have to rent or assume they could acquire a home that would be at it's lowest value.

It was just an example.

But like a majority of americans, home owners have become upside down or breaking even when a sale is forced.

In other words... if you bought a home a few years ago- Put over 100k down. Sell it in 2010 and hope you don't have to bring cash to closing due to depreciation.

This would leave a qualified buyer (credit wise) with no money for next home. A buyer would have to rent or assume they could acquire a home that would be at it's lowest value.

A short sale won't leave a person with good credit. There will be a credit ding and reduction in overall score when a short sale is reported to the repositories, simply because a lender has written off a portion of the debt.

To qualify for some of the higher LTV programs out there, unless it is a private lender, you have to be a first time home buyer, which means you haven't owned a home for the last three years......whether primary, vacation or rental.

Good luck!

A short sale won't leave a person with good credit. There will be a credit ding and reduction in overall score when a short sale is reported to the repositories, simply because a lender has written off a portion of the debt.

To qualify for some of the higher LTV programs out there, unless it is a private lender, you have to be a first time home buyer, which means you haven't owned a home for the last three years......whether primary, vacation or rental.

Good luck!

hard not to take generalities personal...just to clarify, home is 100%current. Lost my job and want to sell before I run out of money!!!
The unscheduled sale in a poor housing market with the added realtor commissions creates a less than desirable situation.

Sorry this happened to you and you are in this situation. I hope everyone's info. here helps and that it works out for you!

Wait a minute....isn't this part of the problem we have been seeing in the mortgage handout industry????

Too little info to comment on this particular situation, but generally
speaking a lot of people should rent rather than buy.

Of course, for those with the financial resources, it's a great
time to buy, in my opinion.

I just did.

Not to be mean, but IMO if you can't afford a 10-20% down payment, you shouldn't be buying a house.

That is what got us all into this cluster!

If u have the income to cover the note, are buying at the bottom and the rate is fixed-

well heck- lucky you!

Not to be mean, but IMO if you can't afford a 10-20% down payment, you shouldn't be buying a house.

That is what got us all into this cluster!

va loans?

I'll be polite and leave it at i didn't have a very good exp with jayne at premiere mortgage