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Zero Down Home Loans For First Time Buyers in Milford

If by chance you're a 1st time home buyer in Milford MI and you're leaning towards a zero down home loan, you will be glad to know you have a few options. All of these options provide strict guidelines that must be considered in order to allow you to put zero as a down payment when buying your first house. Below you will find a few opportunities available to first time home buyers in Milford MI.

The Michigan USDA Rural Development Loan

The 1st opportunity for a zero down mortgage is the USDA's RD mortgage. 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 the pros at 248-674-6450 and loan officer can let you know if the United States Department of Agriculture RD mortgage loan will work for you.

MSHDA Down Payment Assistance

Another thing to consider on zero down mortgage loans for 1st time home buyers in Milford Michigan is checking out state departments like the Michigan State Housing Development Authority. MSHDA has services for down payment help that could be used in conjunction with Federal Housing Administration home loan financing. This financial aid can total up to $7,500 and does not force you to send any payment nor does it accrue interest but it must be paid in full when you want to refinance or sell your house. There will be other restrictions to the MSHDA down payment assistance program like your loan amount and your wages as it was created to assist buyers earning low to moderate wages.

Local or Federal Grants

The final option available on zero down home loans for first time home buyers in Milford Michigan is to check out any federal money designated to Milford for neighborhood stabilization programs. You will learn more on the resources that will be available in your township by reaching out to your countys community development representative which could be located on the web.

If you happen to be considering zero down home loans for first time home buyers in Milford 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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  • Randy Perry
    October 27, 2011

    Fantastic blog.Really thank you! Cool.

  • Joshua Anderson
    November 6, 2011

    Really informative blog article.Thanks Again.

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