100% Financing Home Loans
100% Financing is No Longer Available
100% used to be avaible thru FHA loans with down payment assistance but that is no longer available either.
Again, 100% Financing is no longer available
Are you having trouble saving for a down payment? We understand that it's not easy to save for a down payment and we don't want that to keep you from becoming a home owner. That's why we are proud to offer 100% financing to people who have at least a 590 credit score.
You must have good credit within the past 12 months if you have a 580 credit score (that means 0 late payments in the past 12 months). Higher scores are not restricted by this. Please note that we are no longer able to do 100% Financing for lower credit scores that we have done in the past. These include our 500 credit score programs and 550 credit score programs. Please see the credit repair information.
Please see FHA pages for information on 100%
- 590 Credit Score or Higher
- No Large Downpayments!
- Non Texas Residents Must Apply Online
Ask about our 590 Credit Score Programs
If you are investing in a property then your return on a 100% Financing will generally be higher when the property increases in value than if you had put up a large down payment. Please note that 100% financing with low credit scores is only available for people buying residences and not investment properties. You must be able to prove your income and your credit must be clean in the past year.
In fact, taking a mortgage loan with 100% financing often allows you to get a larger or more expensive home as long as you can afford the monthly payments. You don't have to worry about putting up a large down payment or using all of your savings on a down payment. Instead, you can keep that money in your checking or savings account and use it for a rainy day. Besides, you can have more money in your pocket for moving expenses, to do upgrades on the house, or buy new furniture.
If you would like to put some money down but still don't have quite enough for the required down payment ask about our 80-20 loans. This option means that you take out one loan for 80% of the purchase price and a second loan that covers the shortfall between the rest of the purchase price and the amount you need for the down payment. Generally speaking, 100% Financing means a higher interest rate and your monthly payments may be higher so be sure to examine your own situation and determine (and feel free to ask us for advice)what loan is right for you.
If you have a middle credit score of 590 or greater
We can now get you 100 Percent financing for a mortgage on a new (or used) home!
That means:
No Down Payment
No escrowing of taxes and insurance
No PMI (Private Mortgage Insurance)
Lower Credit Scores need to have clean credit in past 12 months
Take advantage of this great financing option for your home mortgage today. Don't let Fair credit or a high downpayment keep you from buying a home. KMA Loans based in Round Rock Texas is - Your source for Fair Credit Home Loans and 100% Financing
Again, see our updated information.
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