100% conventional financing on a property? Sounds too good to be true, right? Until recently it actually wasn’t a legitimate option. 100% home financing was only available if you were purchasing a home in a qualifying rural area or a U. S. Veteran. Now we have an option for 100% conventional financing.
Going outside the box for our clients
We have talked many times before about how difficult it can be to save up 5%, 10%, 20% down. Rent is expensive, you may have significant student loan payments. We have previously shared about the many great low down payment options available. But this new program gives our clients even more options to help them achieve the dream of home ownership.
Do you already have some money saved up for your down payment? That money can be used to cover closing expenses. Or allow you to make some updates to your new home and purchase new furniture. Cash savings can also be used to buy down your rate.
This 100% conventional financing program is a great opportunity for first time home buyers who don’t feel they have enough of a down payment or would like to utilize their cash for other purposes.