Zero down payment loans are designed to offer home ownership
opportunities to borrowers with good credit but who lack the
ability or desire to make a down payment on a home. It
provides an option for those who wish to invest their
savings in assets other than their home.
This type of financing is popular among both first time
home buyers and experienced home buyers and you can use zero
down payment loans for a purchase or a refinance. The fixed
rate loan is also available for construction and home
improvement of an owner occupied primary residence.
While you are not required to make a down payment, you
must have 3% in the transaction. These funds are applied
toward your closing costs and may come from your own funds,
a gift from a relative, grant, or sale of assets you own.
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