100% FINANCING OPTIONS FOR HOME OWNERS


We offer 100% Financing on most of our properties and the buyer needs to make almost NO DOWN payment. No money down mortgage loans enable you to secure a home mortgage to buy your new dream home even if you do not have sufficient funds to meet the down payment requirements of a conventional mortgage.

Qualified BUYERS under this program get to enjoy the following BENEFITS:

  • BUYERs can purchase properties with LOW to NO DOWN Payment

  • BUYERs can get 100% Financing on their Purchase**

  • BUYERs get Easy Qualification** for SECOND Mortgage (check details)

  • BUYERs can qualify for LOW Interest SECOND Mortgage

  • NO Mortgage Insurance Required

  • NO HIGH Interest Rate SECOND Mortgages

  • NO Payment on SECOND Mortgage from ONE (1) to SEVEN (7) Years***

  • BUYERs CAN afford to Purchase their HOME, NO MORE RENT!

** Based on BUYER’s credit qualification
*** Payment is deferred from 1 to 7 years based on BUYER’s credit qualification. Interest does accrue

 

How the Financing Model Works

NO DOWN PAYMENT & NO PAYMENT 2nd MORTGAGE

  • BUYER will obtain their OWN financing for the First Mortgage - 80% LTV*

  • SELLER will offer Second Mortgage – 10% (LOW DOWN) or 20% (NO DOWN) LTV*

  • SELLER’s Second Mortgage Rate is EQUAL to First Loan

  • SELLER’s Second Mortgage Payment is DEFERRED for ONE (1) to SEVEN (7) Years**

  • First Mortgage CANNOT be an Option ARM

* LTV = Loan to Value of House

 

SELLER Financing & TRADITIONAL Financing

Here is an Example, for a Single Family Home for a Sales Price of $400,000.00:

SALES PRICE:                               $400,000.00
BUYER’s TRADITIONAL First Mortgage 80% LTV:                               $320,000.00
BUYER’s DOWN Payment:                               $           0.00
SELLER’s No DOWN Second Mortgage 20% LTV:                               $  80,000.00
TOTAL FINANCED:

                              $400,000.00


Under this particular Example the BUYER’s Payment is as follows (example assumes BUYER is qualified for 6.00% Interest Only First Mortgage):

                                    LOAN Amount          Interest RATE           Monthly PAYMENT

FIRST Mortgage        $320,000.00                        6.00%                 $2,100.00/mo + tax + ins.

SECOND Mortgage   $  80,000.00                        6.00%                 $0.00 for first 7 years ***

TOTAL PAYMENTS:                                                                               $2,100.00 + tax + ins.


Let us help you step into the bliss of home ownership in a simple and secure manner. Do not let lack of down payment funds stop you from securing your dream home. Contact us at re21realty@yahoo.com Our mortgage professionals will study your situation and requirements and will give you the best terms and rates on no money down mortgage loans. You have nothing to lose.

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