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No Money Down 100% Mortgage Home Loans in Wisconsin and Illinois

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In a Changing Marketplace No Down Payment Financing is Still an Option

Even in the current, more restricted lending market, 100% financing no money down mortgage loans are still available for qualified borrowers. We offer a variety of 100% financing no down payment mortgage programs in Wisconsin and Illinois including major cities such as Chicago, Milwaukee, Madison and Appleton.

We offer the following no money down mortgage programs:
(No money down programs are available to first time home buyers!)

Programs listed below require at least a 5% down payment:

No money down / no down payment home loans in Illinois and Wisconsin can be used for a number of reasons such as making home improvements, purchasing a new home, refinancing your current home for a better rate or to refinance out of an ARM rate to a fixed rate.

All Wisconsin and Illinois Mortgage Programs
100% Financing (No Money Down) Programs
First Time Home Buyer Mortgage Programs
My Community Mortgage
Government Loans including FHA, VA and Rural Housing
Wisconsin Refinance Illinois Refinance Programs

Current Wisconsin and Illinois Mortgage Rates
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Latest no money down blog entries:

No Money Down Rural Mortgage Loans
January 26, 2010

It is becoming harder and harder for a Wisconsin first time home buyer to purchase a home, yet there are still many affordable homes if you have a down payment or the advantage of a program that helps you qualify for more home.

Guaranteed Home Loans: Rural families and individuals may be eligible to become homeowners with the help of a U.S. Department of Agriculture - Rural Development guaranteed loan. Sometimes good credit and a steady income are not enough to qualify. A sizable down-payment may also be required. But when the Agency agrees to guarantee a loan, lending institutions can help buyers with 100% financing, while incurring little risk. Through the Guaranteed Rural Housing Loan Program, low and moderate income people can qualify for mortgages even without a down-payment.

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No Money Down 100% Mortgage Loans
January 5, 2010

No Money Down FHA VA Rural Housing in Greendale, Pewaukee, Green Bay, Franklin and West Allis Wisconsin

Wisconsin no money down loans are risky because you are starting off with no equity in the property. They are a colossal risk for the lender, therefore, any one that applies for one of these programs must have extensive documentation to prove their eligibility.

The three primary no money down mortgage solutions that we facilitate are USDA rural housing loans, FHA loans (FHA requires 3.5% down as of January 1, 2009), and VA loans.

FHA, VA and USDA are also the best form of financing for Wisconsin no down payment home mortgages.

Visit our no money down mortgage page for additional Wisconsin no money down program requirements.

Your local Wisconsin and Illinois no money down mortgage broker. No down payment loans are available in Illinois and Wisconsin including Chicago, Milwaukee and Madison. Contact us for questions or additional information

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No Money Down Rural Mortgage Loans
January 5, 2010

While most Illinois and Wisconsin mortgage loan products are being scaled back due to associated credit risk, the USDA Rural Housing loan is still allowing borrowers to finance 100% (no down payment) and then some to buy their homes.

The USDA Rural Housing loan works a lot like a VA loan with a couple of differences that are beneficial to buyers with little or no cash on hand. A VA loan has a 2.15% funding fee for the first use; USDA loans have a 2% funding fee for all uses (in both the VA and USDA loan, the funding fee can be added to the loan amount and financed into the loan). A VA loan has a 3.3% funding fee for all subsequent uses of a veteran’s eligibility; the USDA loan is always 2%. Because of the lower funding fee, a USDA loan will result in a lower mortgage amount and, thus, a lower monthly payment.

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VA Mortgage Purchase loans
October 17, 2009

Today we are going to look at the many misconceptions about VA loans in Wisconsin. Whether it was the broker giving the wrong information or finding outdated information from non-reliable websites - it was evident that for whatever reason, the facts about Wisconsin VA Loans were getting distorted.

Over the years - I’ve heard it all. I thought it would be a good idea to take a look at the 7 most common myths I’ve heard about Wisconsin VA Loans:

3. "The VA inspector will check the property so I don’t have to worry"

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First Time Home Buyer Loans in Illinois and Wisconsin
July 14, 2009

First time home buyers in Illinois and Wisconsin need to keep up with the ever changing mortgage market. First time home buyers need to understand what type loans are available to you.

We offer many first time home buyer programs in Wisconsin and Illinois including first time home buyer loans in Chicago, Milwaukee and Madison.

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No money down mortgage loans in Illinois, Wisconsin, Chicago, Milwaukee, Madison and Janesville. No down payment required.