Zero Down Loans For 1st Time Buyers in West Bloomfield
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Zero Down Loans For First Time Buyers in West Bloomfield

If you happen to be a first time buyer in West Bloomfield Michigan and you are looking for a 0 down home loan, you will be glad to know you have a couple options. All of these choices will have strict guidelines that must be followed in order to allow you to put nothing down when buying your new home. Below you'll become aware of a couple opportunities available to you as a first time home buyer in West Bloomfield Michigan.

The Michigan USDA Rural Development Loan

The 1st opportunity for a zero down payment mortgage loan is the USDA's Rural Development mortgage. This mortgage financing allows zero down but is the beneficiary of an up front mortgage insurance premium and it also has geographic and income guidelines. Call us at 248-674-6450 and a mortgage consultant will let you know if the USDA RD home loan is best for you.

MSHDA Down Payment Assistance

Another thing to consider on 0 down mortgage loans for 1st time home buyers in West Bloomfield Michigan is working with state programs such as the Michigan State Housing Development Authority. MSHDA has opportunities for down payment assistance which could be used along with Federal Housing Administration loan lending. This loan could total $7,500 and does not require you to send any monthly payments nor does it accrue interest but it absolutely must be paid in full if you need to refinance or sell your home. There are other restrictions to the Michigan State Housing Development Authority down payment assistance program such as your mortgage amount and your household income as it was put in place to assist people earning low to moderate wages.

Local or Federal Grants

The last option available on zero down home loans for first time home buyers in West Bloomfield Michigan is to look into any federal funding offered to West Bloomfield for neighborhood rehabilitation programs. You can learn more in reference to the opportunities that are allowed in your area by contacting your areas community development representative which could be searched on the internet.

If you're thinking about zero down home loans for first time home buyers in West Bloomfield 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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Comments

  • Jesse Russell
    October 27, 2011

    Really enjoyed this article post.Much thanks again. Great.

  • Brenda Phillips
    November 5, 2011

    Thank you for your blog article. Really Great.

  • November 5, 2011

    I truly appreciate this blog post.Thanks Again.

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