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Zero Down Home Loans For First Time Buyers in Ann Arbor

If you happen to be a first time home buyer in Ann Arbor MI and you are interested in a zero down home loan, you'll notice you have a couple opportunities. Each one of these opportunities provide specific guidelines that should be followed allowing you to put nothing as a down payment when mortgaging your house. Below you will see a few choices available to first time home buyers in Ann Arbor Michigan.

The Michigan USDA Rural Development Loan

The first choice for a zero down mortgage is the United States Department of Agriculture's Rural Development mortgage. This home financing requires zero down but is subject to an up front mortgage insurance premium and it also has geographic and income restrictions. Call Michigan Mortgage Solutions at 248-674-6450 and a mortgage consultant will let you know if the United States Department of Agriculture Rural Development mortgage loan is a good fit for you.

MSHDA Down Payment Assistance

Another thing to consider on zero down mortgage loans for first time home buyers in Ann Arbor Michigan is checking out state departments like the MSHDA. MSHDA has programs for down payment assistance that will be offered along with FHA home loan financing. The financial aid can total as much as $7,500 and doesn't require you to make any monthly payments nor will it charge interest but it must be paid off should you happen to refinance or sell your home. There will be other rules to the MSHDA down payment assistance program such as your loan total and your wages as it was created to help people earning low to moderate incomes.

Local or Federal Grants

The final resource I know of on zero down home loans for first time home buyers in Ann Arbor Michigan is to look into any federal money granted to Ann Arbor for neighborhood stabilization programs. You could observe more in reference to the opportunities that are available in your town by getting in touch with your areas community development municipality which can be located on the internet.

If you'd like more info on zero down home loans for first time home buyers in Ann Arbor Michigan call 248-674-6450 right now!

Accurate Mortgage Payment Calculations on The Go
Our mortgage app allows borrowers to calculate mortgage payments using up to date mortgage rates as well as accurate mortgage insurance premiums based on product and credit score

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Most mortgage calculators force users to input unknown data like mortgage rates or mortgage insurance. Without the correct data these calculations become worthless. Our app populates this data for the user based on up to date mortgage rates and accurate mortgage insurance quotes based on loan product and credit score.

Buit-in convenience within the admin area

The app has a really cool admin area that allows you to securely scan and send important mortgage documents right from your phone. No need for a fax machine or a scanner when our app will do the job.

Install on your phone for easy access 24/7

Our mortgage app can be installed by simply entering your mobile number and opening a text. Once installed, you'll have full access to the app and be able to perform unlimited mortgage calculations for any available mortgage product. This allows you to accurately compare different mortgage products on the go.

All mortgage calculations are saved

You can review any of your previous mortgage calculations from within the app. This makes it easier to compare different mortgage programs as well as other loan parameters. This can save you from running the same numbers over and over again.

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  • Keith Baker
    November 3, 2011

    “Say, you got a nice post.Thanks Again. Will read on…”

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