Zero Down Home Loans For First Time Buyers in Armada
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Zero Down Home Loans For First Time Buyers in Armada

If by chance you're a first time home buyer in Armada Michigan and you are looking for a zero down payment mortgage, you will notice you have a couple choices. Every one of these options will have strict guidelines that must be considered if you want to put nothing down when purchasing your first house. Below you'll find a several choices available to first time home buyers in Armada MI.

The Michigan USDA Rural Development Loan

The first choice for a 0 down payment mortgage is the USDA's RD mortgage loan. This mortgage financing requires zero down but is subject to an up front mortgage insurance premium and it also has geographic and income guidelines. Call Michigan Mortgage Solutions at 248-674-6450 and mortgage broker will let you know if the United States Department of Agriculture Rural Development mortgage loan will work for you.

MSHDA Down Payment Assistance

Another thing to consider on 0 down home loans for first time home buyers in Armada Michigan is working with state departments like the MSHDA. MSHDA has services for down payment assistance which can be offered in conjunction with FHA loan financing. This assistance could be as much as $7,500 and doesn't force you to make any monthly payments nor does it charge interest but it must be paid back should you want to refinance or sell the home. There happen to be other rules to the Michigan State Housing Development Authority down payment assistance program like your loan amount along with your wages as it was created to assist buyers with low to moderate wages.

Local or Federal Grants

The last option I have on zero down home loans for first time home buyers in Armada Michigan is to check out any federal money granted to Armada for neighborhood stabilization programs. You could find more in reference to the programs that may be allowed in your county by reaching out to your towns community development municipality which could be easily found on the internet.

If you'd like more info on zero down home loans for first time home buyers in Armada 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

Designed with ease of use and accuracy in mind

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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  • Martha Rogers
    November 4, 2011

    I really liked your blog post.Really looking forward to read more. Great.

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