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Zero Down Home Loans For First Time Buyers in Troy

If you happen to be a 1st time home buyer in Troy MI and you are looking for a 0 down payment mortgage loan, you will be glad to know you have a few choices. All of these options provide specific guidelines that should be followed if you want to put zero as a down payment when financing your first home. Below you will find a several choices available to first time buyers in Troy Michigan.

The Michigan USDA Rural Development Loan

The 1st opportunity for a 0 down payment mortgage is the United States Department of Agriculture's RD mortgage. This home loan offers no down payment but is the beneficiary of an up front mortgage insurance premium and it also has income & geographic guidelines. Call the pros at 248-674-6450 and Michigan Mortgage Solutions can let you know if the USDA RD mortgage is a good fit for you.


MSHDA Down Payment Assistance

nother thing to consider on zero down home loans for 1st time home buyers in Troy Michigan is looking into state departments like the MSHDA. MSHDA has opportunities for down payment help that could be collaborated in conjunction with FHA home loan financing. This loan can total up to $7,500 and will not force you to pay any monthly payments nor does it collect interest but it has to be paid back should you need to refinance or sell the home. There will be other guidelines to the MSHDA down payment assistance program such as your mortgage total and your gross income as it is put in place to assist people with lower to moderate wages.

Local or Federal Grants

The final option I have on zero down home loans for first time home buyers in Troy Michigan is to look up any federal funding offered to Troy for neighborhood stabilization programs. You can learn more regarding the resources that are offered in your area by contacting your townships community development office which could be located in Google.

If you happen to be considering zero down home loans for first time home buyers in Troy 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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  • John Peterson
    October 28, 2011

    This is one awesome blog.Really thank you!

  • Ernest Warren
    October 28, 2011

    Im obliged for the article.Really thank you! Great.

  • Ralph Gordon
    November 4, 2011

    Major thankies for the blog post. Awesome.

  • Kristy
    January 31, 2012

    Great article!

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