The 100% financing loan is 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. You can use 100% financing 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 requires to make a down payment, you must have funds able 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. 

Things you should think about when buying a new home:

• What is the new home for?  (family, vacation, investment…)
• What is the neighborhood like?
• How far is it from your work?
• How long do you intend to live in the home?
• What are the schools like?
• Are there parks and other outdoor facilities in your area?
• What monthly payment will you be comfortable with?