Specialists in 100% Financing... of single family residences (1-4 units), condos, townhomes, and PUD's.

Frequently Asked Questions - FAQ

How long after a bankruptcy is discharged can a borrower obtain a loan?

Today some lenders are able to take a look at person's overall credit and financial picture to seek out borrowers who may have had a single issue leading to the filing of a bankruptcy.  It is possible to obtain a 100% purchase loan with a recent bankruptcy discharge (in as little time as 1 week discharge).  These particular programs are credit score driven so if a person had good to excellent credit just prior to the bankruptcy, he/she may be able to qualify for 100% financing.  Alternatively, there are additional programs where if a borrower has a down payment (the percentage will vary based upon the credit score), financing is still possible with only an average rating.

What is Mortgage Insurance (PMI)?

Mortgage Insurance (PMI) is an insurance premium that is taken out by a mortgage company to protect "the lender" in the event of foreclosure (this has nothing to do with protecting the borrower- YOU). When a borrower purchases a home, a lender in most cases includes mortgage insurance, also called Private Mortgage Insurance (PMI), to the monthly payment. 

What are the benefits of purchasing a home without Mortgage Insurance (no PMI loan)?

What type of property can I buy?

100% financing is available on residential properties that meet standard lender residential guidelines. Click here for guidelines.

Is FHA the First Time Buyer Program?

Many first time home buyers falsely believe that there are FHA First Time Home Buyer programs designed for them with low, low rates.  The fact of the matter is that the FHA rate offered to a homebuyer is determined by the Lender (Loan Officer) with whom they are dealing.  Further, if a borrower has good to excellent credit, he/she may save thousands over the course of a 30 year loan by opting for a Conventional loan program. Click Here for More Info