Are you thinking about purchasing your first home and looking for 100% financing loan solutions? Many aspiring homeowners are eager to invest in a house of their own, but grow discouraged by hefty down-payments. This is understandable as coming up with thousands of dollars to put down upfront can be a real challenge for many first-time buyers.
But alas, there is hope: 100% financing loan options.
100% financing loan options create an opportunity for borrowers to finance at 100% of cost of the purchase eliminating the stress of down-payments. Programs have been instituted to help individuals and families get their foot in the door via down-payment assistance. The financial blockade that deters many would-be buyers is made much smaller, or eliminated entirely with loan options such as The Washington Bond Program, and The Springboard Loan Program.
The Washington Bond Program* is a down-payment assistance program geared towards homebuyers in Washington State. This loan option is available to those with an annual household income of up to $145,000 and covers 4-5% of your down-payment.
The Springboard Loan Program* is offered to Oregon residents and also assists with down-payments—up to 4%! Much like The Washington Bond Program, income restrictions may apply.
If you’re dreaming of buying a home, don’t let the idea of a down-payment defeat you! 100% financing loan options are accessible and available to make the transition from renter to homeowner much easier than you might have anticipated. The best part? The Senior Mortgage Bankers with Summit Mortgage Corporation are eager to walk you through this process. Give Us a Call to talk more about what 100% financing can do for you!
*Down-payment will be in the form of a second lien which may or may not have an interest rate depending on program chosen. All terms and conditions apply.