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Zero Down Home Loans For First Time Buyers in Ray Michigan

If by chance you're a first time buyer in Ray MI and you are looking for a zero down payment mortgage loan, you will notice you have several options. Every one of these choices have strict guidelines that should be followed in order to allow you to put nothing down when mortgaging your first home. Below you'll notice a couple choices available to you as a first time home buyer in Ray MI.

The Michigan USDA Rural Development Loan

The first opportunity for a zero down home loan is the USDA's Rural Development home loan. This mortgage financing offers 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 inform you if the United States Department of Agriculture Rural Development mortgage is best for you.

MSHDA Down Payment Assistance

Another thing to think about on zero down mortgages for first time home buyers in Ray Michigan is working with state departments as in the MSHDA. MSHDA has programs for down payment help which will be used in conjunction with Federal Housing Administration mortgage lending. This loan can total $7,500 and will not make you to send any payment nor does it accrue interest but it has to be paid in full should you want to refinance or sell the home. There will be other restrictions to the Michigan State Housing Development Authority down payment assistance program like your mortgage total along with your total income as it is created to assist buyers with lower to moderate wages.

Local or Federal Grants

The final resource I know of on zero down home loans for first time home buyers in Ray Michigan is to look up any federal funding assigned to Ray for
neighborhood rehabilitation programs. You will observe more about the options that are allowed in your county by contacting your townships community development office 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 Ray 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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  • Lisa Morales
    November 2, 2011

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  • George Torres
    November 6, 2011

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  • Rebecca Jordan
    November 8, 2011

    Im obliged for the blog.Really thank you! Much obliged.

  • Kristy
    January 14, 2012

    Thanks for the blog article

  • Kristy
    January 28, 2012

    Really great info

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