Introducing the no more waiting, saving, house hunting….still waiting, home loan

[Team_Serpent]

Is a down payment the only thing keeping you from home ownership?

I realize that one of the biggest obstacles for homebuyers today is having enough cash for the down payment and closing costs.  With the 100% LTV loan you can now finance up to 100% of the purchase price of you dream home.

100% financing - Allows those with little or no savings to purchase a home.
Eligibility for no down payment is dependent on your credit score, not your level of income.
You can finance an additional 3% to cover your closing costs or the first year's mortgage insurance premium.
Closing costs can come from the seller or a gift, which means you can have "more home for less cash"

So don't let a down payment stand in your way. Call me today and I can help you get started.

Jason Temme
Benchmark Mortgage Corp.
1750 E Golf Rd. Suite 310
Schaumburg, IL 60173
(847) 619-1500 ext.232

[Gixxerblade]

Aren't these 100% things not working anymore with the interest rates the way they are? In the end isn't the buyer that ends up getting screwed?

[tstruyk]

not at all, its the "interest only 2 year arm at 100% to the 580 borrower" that is no working... in fact, its been completely removed from the market.

Investors, during the housing boom, were buying SOOOOO deep into the market that persons who probably should not have been buying a house with zero equity, where able to.  100% loans are not a problem and are still being bought on a regular basis to borrowers who have a much stronger credit profile.

Interest rates dont really have an effect on portfolio performance.  the ratio's used for approvals still hold fast and are the true qualfier for potential buyers.

100% loans arent made for short term... you need to spend sometime on the home to build equity.

The only loans that can "screw over" a buyer are the ones that shady financial consultants "suggest" to people who are clearly not in a position to afford, or benefit from a particular program.  Its no different than having a used car salesman sell you a lemon.  You should know or trust who you work with or take the chance.  Thats why its not a bad idea to work with folks who have been referred to you by a friend, family member...or maybe a message board 

[Team_Serpent]

tstruyk,

Thanks for posting, saved me some typing.

Steve,
100% financing helps many people realize their dream of owning a home.  I don't know anyone who has gotten screwed because of 100% financing.  tstruyk is correct in regards to working with someone who can help you determine if you can afford the payments and making sure you are in the right loan program.

Feel free to call me at 847-619-1500 extention 232 if you have questions.