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Zero Down Loans For First Time Buyers in Pleasant Ridge

If you're a 1st time home buyer in Pleasant Ridge Michigan and you are interested in a zero down home loan, you will find you have three opportunities. Each one of these options have direct guidelines that have to be considered if you want to put zero as a down payment when financing your house. Below you will find a couple options available to first time buyers in Pleasant Ridge Michigan.

The Michigan USDA Rural Development Loan

The 1st opportunity for a 0 down home loan is the United States Department of Agriculture's Rural Development home loan. This mortgage loan offers no down payment but is the beneficiary of an up front mortgage insurance premium and it also has income & geographic guidelines. Call the pros at 248-674-6450 and mortgage broker will let you know if the USDA RD home loan is a good fit for you.

MSHDA Down Payment Assistance

Another thing to consider on 0 down home loans for first time home buyers in Pleasant Ridge Michigan is looking into state departments such as the MSHDA. Michigan State Housing Development Authority has programs for down payment assistance that could be collaborated in conjunction with Federal Housing Administration mortgage lending. This loan can total $7,500 and does not force you to send any payment nor will it collect interest but it absolutely must be paid back should you need to refinance or sell your home. There happen to be other restrictions to the Michigan State Housing Development Authority down payment assistance program such as your mortgage total and your household income as it was put in place to help buyers earning low to moderate incomes.

Local or Federal Grants

The last option I have on zero down home loans for first time home buyers in Pleasant Ridge Michigan is to look into any federal money granted to Pleasant Ridge for neighborhood rehabilitation programs. You could find more in reference to the opportunities that could be offered in your town by contacting your townships community development municipality which will be searched on the web.

If you are considering zero down home loans for first time home buyers in Pleasant Ridge 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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  • November 1, 2011

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  • Raymond Webb
    November 6, 2011

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  • Julie Cole
    November 6, 2011

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  • Kristy
    January 31, 2012

    Such good info – thank you!

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