Wisconsin and Illinois No Money Down Mortgage Loans
Posted by madisonmortgage on June 1st, 2009
The three primary Wisconsin and Illinois no money down mortgage solutions that we facilitate are USDA rural housing loans, FHA loans, and VA loans. A no down payment mortgage can help you keep from depleting your savings with a down payment, but it will probably result in a slightly higher interest rate. Both VA and FHA loans are available in major cities such as Chicago, Milwaukee and Madison however USDA loans are not.
Visit our no money down program page for addtional details.
These loan programs are available to you even if you are a first time home buyer. A Wisconsin no money down mortgage or Illinois no money down mortgage loan is an excellent choice for a home buyer, who may not have enough money for the standard 20% down payment.
USDA loans can go up to 102%, VA loans to 100%, while FHA loans may require a 3% down payment but this can come from our down payment assistant program as a gift. Our No Money Down Mortgage loans are available for borrowers to purchase a one thru four family home or condominium. Not only does HUD want to offer Zero Down loans, but they want to allow the borrower to roll some of the closing costs into the loan up to a maximum loan value of 102% (rural housing loans only) of the selling price.
Wisconsin and Illinois no money down program highlights:
- 100% financing; no money down (FHA now requires 3.5% down)
- No private mortgage insurance (Rural Housing and VA Loans)
- 30 year fixed interest rate
- Flexible credit guidelines
- Flexible qualifying guidelines
- No maximum purchase price (Rural Housing)
Visit our no down payment page for additional Wisconsin and Illinois no money down program requirements.
Dennis Hardy
Toll Free: (877) 240-5810 x104
dennis.hardy@madisonmortgageguys.com
www.Madisonmortgageguys.com
Visit my blog at http://www.madisonmortgageguys.com/blog/
Visit my rural housing blog post at http://www.madisonmortgageguys.com/blog/content/wisconsin-and-illinois-rural-housing-mortgage-loans/
Visit my VA loan blog post at http://www.madisonmortgageguys.com/blog/content/wisconsin-va-mortgage-loans-illinois-va-home-loans/
Visit my FHA mortgage blog post at http://www.madisonmortgageguys.com/blog/content/wisconsin-fha-loans-and-illinois-fha-mortgage-home-loans/
No down payment mortgage loans in Illinois and Wisconsin including Chicago, Milwaukee and Madison.
