100% Financing options that are still avaliable.

Fannie Mae and Freddie Mac have stopped purchasing 100% mortgages. Right now they require 3% down payment. Ohio Bond have an exception to this. Currently we can still do 100% mortgages. I don’t know how long this will last but even if it gets limited to 97% like the rest of the mortgages we can still do a 4% second mortgage to cover the down payment. Some lenders are still allowing down payment assistance programs for FHA, that is another option and there are organizations out there that have grants available for homebuyers to use for down payment, some of them can pay up to 7% of the purchase price That is a huge amount of money for your buyers. Call me if you have any questions or need more details for your buyers. Gillian G. Meadows Humphries Mortgage, Inc.
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