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Zero Down Home Loans For First Time Buyers in Southfield

If by chance you're a first time home buyer in Southfield Michigan and you are leaning towards a zero down payment mortgage loan, you'll find you have a couple opportunities. All of these options will have direct guidelines that must be met if you want to put nothing down when buying your first house. Below you'll find a list of opportunities available to first time buyers in Southfield Michigan.

The Michigan USDA Rural Development Loan

The 1st opportunity for a zero down mortgage loan is the USDA's Rural Development mortgage. This mortgage loan offers no down payment but is the beneficiary of an up front mortgage insurance premium and it also has geographic and income restrictions. Call the pros at 248-674-6450 and loan officer can tell you if the United States Department of Agriculture RD mortgage loan is a good fit for you.

MSHDA Down Payment Assistance

Another consideration on zero down mortgage loans for first time home buyers in Southfield Michigan is checking out state departments like the Michigan State Housing Development Authority. Michigan State Housing Development Authority has programs for down payment aide which will be collaborated along with Federal Housing Administration home loan lending. This loan can total $7,500 and does not force you to pay any monthly payments nor will it accrue interest but it has to be paid back when you want to refinance or sell the home. There are other restrictions to the Michigan State Housing Development Authority down payment assistance program such as your loan total and your wages as it is created to assist those with lower to moderate incomes.

Local or Federal Grants

The last resource available on zero down home loans for first time home buyers in Southfield Michigan is to inquire about any federal money offered to Southfield for neighborhood rehabilitation programs. You will observe more regarding the options that are offered in your city by reaching out to your countys community development representative which will be found online.

If you're looking into zero down home loans for first time home buyers in Southfield Michigan call 248-674-6450 today!

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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    October 26, 2011

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    October 28, 2011

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    October 31, 2011

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