Zero Down Home Loans For 1st Time Buyers in Royal Oak
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Zero Down Home Loans For First Time Buyers in Royal Oak

If you're a first time buyer in Royal Oak Michigan and you are leaning towards a zero down mortgage, you'll find you have a few opportunities. All of these opportunities have direct guidelines that must be met allowing you to put zero as a down payment when buying your first house. Below you will find a few options available to first time buyers in Royal Oak Michigan.

The Michigan USDA Rural Development Loan

The first option for a 0 down payment mortgage is the United States Department of Agriculture's Rural Development mortgage. This home loan requires no down payment but is the beneficiary of an up front mortgage insurance premium and it also has geographic and income regulations. Call us at 248-674-6450 and mortgage broker will inform you if the United States Department of Agriculture RD mortgage is a good fit for you.

MSHDA Down Payment Assistance

Another consideration on zero down mortgages for first time home buyers in Royal Oak Michigan is working with state departments as in the MSHDA. Michigan State Housing Development Authority has opportunities for down payment aide which will be collaborated in conjunction with FHA home loan financing. This financial aid can be up to $7,500 and does not require you to make any monthly payments nor does it collect interest but it absolutely must be paid back if you want to refinance or sell your home. There are other rules to the Michigan State Housing Development Authority down payment assistance program like your loan amount and your income as it is created to help people with lower to moderate salaries.

Local or Federal Grants

The last resource available on zero down home loans for first time home buyers in Royal Oak Michigan is to inquire about any federal money granted to Royal Oak for neighborhood rehabilitation programs. You could observe more in reference to the programs that will be allowed in your town by reaching out to your townships community development municipality which will be easily found in Google.

If you happen to be interested in zero down home loans for first time home buyers in Royal Oak Michigan call 248-674-6450 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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Comments

  • October 26, 2011

    Looking forward to reading more. Great article.Really thank you!

  • Gary Torres
    November 4, 2011

    Im thankful for the article.Much thanks again. Cool.

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