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

If by chance you're a 1st time buyer in Richmond Michigan and you are leaning towards a zero down home loan, you will be glad to know you have a couple options. Every one of these options provide direct guidelines that have to be considered if you want to put nothing down when buying your first home. Below you'll see a few options available to first time home buyers in Richmond Michigan.

The Michigan USDA Rural Development Loan

The 1st option for a 0 down payment mortgage loan is the USDA's RD home loan. This home loan offers no down payment but is subject to an up front mortgage insurance premium and it also has geographic and income guidelines. Call us at 888-665-2630 and we'll let you know if the United States Department of Agriculture Rural Development home loan is best for you.

MSHDA Down Payment Assistance

Another thing to think about on zero down home loans for 1st time home buyers in Richmond Michigan is looking into state programs such as the Michigan State Housing Development Authority. Michigan State Housing Development Authority has opportunities for down payment help which will be collaborated along with Federal Housing Administration home loan financing. The loan could be up to $7,500 and will not force you to make any monthly payments nor does it accrue interest but it must be paid off should you want to refinance or sell the house. There happen to be other guidelines to the Michigan State Housing Development Authority down payment assistance program like your mortgage total and your total income as it was put in place to help those earning low to moderate salaries.

Local or Federal Grants

The last opportunity available on zero down home loans for first time home buyers in Richmond Michigan is to inquire about any federal funding designated to Richmond for neighborhood stabilization programs. You could learn more about the programs that will be offered in your area by reaching out to your city's community development office which will be easily found on the internet.

If you'd like more info on zero down home loans for first time home buyers in Richmond 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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    November 2, 2011

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    November 3, 2011

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