Zero Down Loans For 1st Time Buyers in Madison Heights
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Zero Down Loans For First Time Buyers in Madison Heights

If by chance you're a 1st time buyer in Madison Heights MI and you are looking for a zero down payment home loan, you'll find you have three options. Every one of these choices have strict guidelines that must be considered if you want to put zero down when buying your home. Below you'll see a list of options available to you as a first time home buyer in Madison Heights Michigan.

The Michigan USDA Rural Development Loan

The 1st option for a zero down payment mortgage is the USDA's RD mortgage loan. This mortgage financing allows 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 loan officer can inform you if the USDA RD mortgage loan will work for you.

MSHDA Down Payment Assistance

Another thing to consider on zero down mortgages for 1st time home buyers in Madison Heights Michigan is looking into state programs like the Michigan State Housing Development Authority. Michigan State Housing Development Authority has services for down payment assistance that will be offered along with FHA mortgage lending. This assistance can total up to $7,500 and will not make you to pay any monthly payments nor will it charge interest but it has to be paid back if you happen to refinance or sell your home. There will be other rules to the MSHDA down payment assistance program like your loan total along with your gross income as it was designed to help those earning low to moderate incomes.

Local or Federal Grants

The final option I know of on zero down home loans for first time home buyers in Madison Heights Michigan is to look into any federal money assigned to Madison Heights for neighborhood rehabilitation programs. You will learn more on the resources that may be allowed in your county by reaching out to your countys community development representative which can be searched online.

If you happen to be interested in zero down home loans for first time home buyers in Madison Heights Michigan call 248-674-6450 ASAP!

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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Comments

  • Jean Wood
    October 29, 2011

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  • October 29, 2011

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    November 5, 2011

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