Texas Mortgage Brokers

Zero Down Payment Mortgage Programs


The 80/20 Zero Down Mortgage with no PMI

You may qualify for our most popular zero down payment mortgage loan program if you have very good credit. The "80/20" home loan program offers low payments, great interest rates and no Private Mortgage Insurance (PMI). This type of zero down payment home loan is also called combination financing or piggyback loans. We provide two simultaneous mortgage loans up to 100% of the purchase price of your home and we allow loan amounts from $125,000 to $500,000 for this zero down home loan program.

Some advantages to consumers using this approach include:

  • Your entire mortgage payment is tax deductible (mortgage insurance is not)
  • You may decide to pay off your second loan early reducing your total monthly payment

    • Zero Down Home Loan for "Bruised Credit"

    We also offer zero down home loans for those who have had past credit problems. A credit score in the high 500's still qualifies you for zero money down financing. Most clients utilizing this zero down mortgage program will take advantage of the opportunity to buy a home with no money down and will then refinance in 2 years, once their credit score has improved, in order to lower the interest rate and reduce their monthly payments.

    The 103% Zero Down Mortgage that even Covers Closing Costs

    This zero money down home loan program requires the least amount of cash to purchase a home. Not only can you finance the entire purchase price of the home, but you may also include all, or nearly all of the closing costs. The "103% Loan" is available as a fixed or variable rate mortgage and for those with very good credit, has no prepayment penalty.

    Down Payment Assistance

    In addition to the above zero down mortgage programs, there are several programs we can refer you to that may help you with your down payment. Some of these programs available are grants that you do not ever have to repay.

    To determine which zero money down choice is better for you, complete the online quick application and we will contact you within one business day to discuss your mortgage options.

    We look forward to working with you.

     

     

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