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mortgages with an LTV of 100%

by jeteve798 from El Dorado Hills, California. Jun 5th 2019 Reply

Tom Micheletti (
#1088 ranked lender in California - 3 contributions

Hello, Yes there are now mortgages with 100% financing. You can do a conventional or FHA first with a forgivable or low-interest rate 2nd (depending on your income). In El Dorado Hills you can buy a home for up to $571,320 with nothing down and no closing costs. Over that amount I have 5% down jumbo programs at attractive terms.Tom MichelettiC2 Financial

Jun 5th 2019
Mel Baker (
#1338 ranked lender in California - 21 contributions

Tom is absolutely correct. Be sure to get pre underwritten with a lender and not pre-approved with a lender. The former means that an underwritten as reviewed your complete file while the latter means your loan officer has completed cursory review.With an underwriting approval it is less likely that surprises will pop up during escrow. We don't want that!! If I can be of further assistance please do not hesitate to call, email or even text.Mel S.BakerArcstone FinancialNMLS 680541(310)985-9778

Jun 6th 2019
William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

There are very few options, even with the absolute best credit. VA offers 100% financing to veterans with remaining entitlement.. USDA offers 100% financing, but the home must be located within the defined USDA area.. and they have income restrictions.. if you make too much, you wont get approved. Other than that, you will need 3% down using conventional if you are a first time home buyer.. otherwise, conventional requires 5% down.. FHA requires 3.5% down.. It's possible there might be some grant programs available in your area, but most all grant programs are intended for low income borrowers.. so if you make too much money, you wont qualify for the programs.. It's best you start with someone (like me).. who will look at your complete loan profile and who is familiar with the local grant programs.. I'm not really sure what you are asking for.. There is no need to write your lender a letter.. you just make payments or extra payments.. and then look at your statement each month.. if you want to see where you will be in the future, go online and find an amortization calculator.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

Jun 7th 2019
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