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Zero Down Home Loans For First Time Buyers in South Lyon

If by chance you're a first time buyer in South Lyon Michigan and you're leaning towards a zero down mortgage loan, you'll be glad to know you have a couple choices. Each of these choices provide strict guidelines that have to be met in order to allow you to put nothing down when purchasing your new home. Below you'll notice a few choices available to first time buyers in South Lyon MI.

The Michigan USDA Rural Development Loan

The first option for a zero down mortgage loan is the USDA's RD home loan. This home loan allows zero down but is subject to an up front mortgage insurance premium and it also has income & geographic guidelines. Call Michigan Mortgage Solutions at 248-674-6450 and we'll tell you if the USDA RD loan is a good fit for you.

MSHDA Down Payment Assistance

Another consideration on 0 down home loans for 1st time home buyers in South Lyon Michigan is checking out state departments such as the MSHDA. MSHDA has services for down payment aide which will be offered along with Federal Housing Administration mortgage financing. The financial aid could total as much as $7,500 and doesn't make you to pay any monthly payments nor does it charge interest but it has to be paid back when you happen to refinance or sell the house. There will be other guidelines to the Michigan State Housing Development Authority down payment assistance program such as your loan amount and your income as it is created to assist buyers earning lower to moderate wages.

Local or Federal Grants

The final option I have on zero down home loans for first time home buyers in South Lyon Michigan is to look up any federal dollars assigned to South Lyon for neighborhood rehabilitation programs. You will learn more regarding the resources that may be allowed in your town by contacting your citys community development municipality which will be searched on the internet.

If you happen to be thinking about zero down home loans for first time home buyers in South Lyon 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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  • Martin Long
    October 28, 2011

    Very informative article.Really looking forward to read more. Really Cool.

  • Barbara Russell
    November 3, 2011

    Major thanks for the post.Really thank you! Great.

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