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

If by chance you're a 1st time buyer in Farmington Michigan and you are looking for a zero down mortgage, you'll find you have a few options. Each one of these options will have direct guidelines that have to be met allowing you to put zero as a down payment when mortgaging your first house. Below you'll notice a few options available to first time home buyers in Farmington Michigan.

The Michigan USDA Rural Development Loan

The first choice for a 0 down mortgage is the United States Department of Agriculture's RD mortgage loan. This mortgage loan allows no down payment but is the beneficiary of an up front mortgage insurance premium and it also has geographic and income regulations. Call us at 248-674-6450 and Michigan Mortgage Solutions can tell you if the USDA Rural Development loan is best for you.

MSHDA Down Payment Assistance

Another thing to consider on 0 down home loans for 1st time home buyers in Farmington Michigan is working with state programs as in the MSHDA. MSHDA has programs for down payment assistance that will be offered along with Federal Housing Administration loan lending. The financial aid can total as much as $7,500 and doesn't force you to pay any monthly payments nor will it collect interest but it has to be paid off when you happen to refinance or sell your home. There happen to be other restrictions to the MSHDA down payment assistance program like your mortgage total along with your total income as it was created to assist those with lower to moderate incomes.

Local or Federal Grants

The last opportunity I have on zero down home loans for first time home buyers in Farmington Michigan is to inquire about any federal dollars designated to Farmington for neighborhood stabilization programs. You can learn more about the programs that may be allowed in your town by getting in touch with your countys community development representative which could be found in Google.

If you happen to be looking into zero down home loans for first time home buyers in Farmington Michigan call 248-674-6450 today!

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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