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

If you happen to be a 1st time buyer in Salem MI and you're looking for a 0 down payment mortgage, you'll notice you have several options. All of these opportunities have specific guidelines that must be met allowing you to put nothing down when mortgaging your first house. Below you will see a several opportunities available to you as a first time home buyer in Salem Michigan.

The Michigan USDA Rural Development Loan

The 1st choice for a zero down home loan is the USDA's RD home loan. This home loan offers zero down but is subject to an up front mortgage insurance premium and it also has geographic and income restrictions. Call us at 248-674-6450 and we will inform you if the United States Department of Agriculture RD mortgage loan is best for you.

The Michigan USDA Rural Development Loan

Another consideration on 0 down home loans for 1st time home buyers in Salem Michigan is looking into state programs like the MSHDA. Michigan State Housing Development Authority has programs for down payment assistance that can be collaborated in conjunction with FHA mortgage lending. The financial aid can be $7,500 and doesn't make you to pay any monthly payments nor does it collect interest but it must be paid in full when you need to refinance or sell the home. There happen to be other restrictions to the MSHDA down payment assistance program like your loan total along with your wages as it is created to assist those having low to moderate salaries.

Local or Federal Grants

The final resource I know of on zero down home loans for first time home buyers in Salem Michigan is to inquire about any federal dollars assigned to Salem for neighborhood rehabilitation programs. You can find more regarding the programs that will be allowed in your county by contacting your countys community development office which could be located on the internet.

If you'd like more info on zero down home loans for first time home buyers in Salem 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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  • Paul Barnes
    October 26, 2011

    Looking forward to reading more. Great blog.Really looking forward to read more.

  • Andrea Harris
    October 28, 2011

    I appreciate you sharing this blog. Fantastic.

  • November 7, 2011

    Muchos Gracias for your article.Really looking forward to read more.

  • Kristy
    January 14, 2012

    Looking forward to more great articles

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