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A Discussion On Zero Down Mortgage Loans

11.08.2009 · Posted in Home and Garden Articles

Interest rates are steadily going down and so are the prices of homes. Many Americans are looking for a way to get in on really good real estate deals by applying for zero down mortgage loans. This is good way to get your dream home with no or little money down. Many of these loans are for the first time buyers.nnThere are many mortgage brokers offering specials to attract first time homeowners. Here is a short list of some of the great deals that can be found by either getting on line and applying for them, or calling a loan officer.nn1. One program that is geared towards those wanting to purchase land used for farming. It has a few restrictions such as it is only for targeted rural areas and some income restrictions. The interest rate on this loan is 3.5%. This loan is to increase the land used for farm and agricultural uses.nn2. A lender known as Crown Financial Solutions has a program that targets those with a low to moderate credit score. The interest rate for this program hovers around 3%.nnThe United States government also has a popular option for first time home owners, known as the FHA. This is targeted towards those with not so good credit to get a loan by just looking at the past few years of payments. There can’t be any bankruptcies over the past two years and credit scores have to be good after the discharge.nnBuying the first home can be an exciting time in a consumer’s life. It makes the deal even sweeter when money is saved through one of the various programs offering little or zero down mortgage loans. In combination with the lowering cost of buying a home, it is a good time to use the programs offered by lending companies.

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