Buy a Denver area home with No money Down? No BULL!
Buy a Home with No money Down?
It is 2012 and you want to purchase a Colorado Home and may not have your Down Payment saved but want to take advantage of the Low Rates and the low Home prices. Interest Rates and Home prices ARE on the Rise, so it is now time to buy.We have Lenders doing no Money Down and No mortgage Loans for those that Qualify. No Bull
If you do not have the Minimum 3.5% down payment for a FHA loan ask yourself these questions and then contact us right Away! 303-955-4220
- Are you a Borrower who does not have money down?
- Are you a Borrower with limited or no credit?
- Are you a Borrower not qualifying for FHA financing?
Ther are 2 qualifications (one or the other) and you can buy a Home with No Money Down**
The property must be located in a Low to Moderate Census Tract
Or the buyer(s) must make less than 80% of the 2012 Estimated Tract
Median Family Income -$62,525 for most Front Range counties
** Call to determine if you qualify. 303-955-4220
Here are the details:
- $500 in closing costs from borrower
- Seller contributions max 4%
- No Seasoning Requirement
- 1 Unit properties: 620 FICO Score - 100% LTV
- The borrower can only own 1 property (no investments or 2nd homes)
- Debt to Income Maximum 42%
- 2 year employment history and standard agency guidelines for qualification
- Minimum 2 years credit history OR if less than 4 tradelines or 2 years history then
- Non-Traditional Credit History may be used.
- Previous BK must be at least 4 years old. Foreclosures - must be 4 years with 2
- years re-established credit.
- Cash on hand $1000 on 1003, if over that must be verified with institution
- All borrowers are required to go through credit/home ownership counseling
- Mobile homes and manufactured homes also eligible at lowered CLTVs
- Max Loan Amount $417K
- No Mortgage Insurance
Call us today at 303-955-4220 and let?s get you a home in 2012!
Disclaimer: Kenna Real Estate. Blog does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied. Blog posts on the Kenna Real Estate. Blog represent the opinions and ideas of the author(s). Kenna Real Estate. Blog does not express the views of Kenna Real Estate. or those of the broker. Copyright® 2013 Kenna Real Estate®