Many people seem to think that 100% financed mortgages are just a myth. We’re here to let you know that paying 0% down is not a fairytale; it’s reality.
We have a program within our reach at MortgageLine to help you do this. It’s called a “flex down program.” It allows you to borrow the funds for a down payment and purchase a home without having to go through the time and trouble of saving up.
This product is not one big mortgage, however. With this product, you get your mortgage for 90% to 95% of the purchase price, then add on an unsecured line of credit to make up the difference. You will get all the money to buy the home up front, and then pay it back in monthly installments.
This could be a fantastic product for you.
One thing to note, however, is that this program is not just for everybody. It’s for those with good debt-to-income ratios and credit scores above 680.
One other thing you should know about this product is that if you do move forward with 100% financing, your application will be very thoroughly reviewed and scrutinized. If you bring a little bit of skin into the game, even just $1,000 to $2,000, it can help make the process easier. This could be a fantastic product for you.
If you have any questions for us or you’re interested in this program, give us a call or send us an email. We look forward to hearing from you!
