No Down Home Mortgage Loans In Florida

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We have 100% No Money Down Florida Loans for just about every type of borrower. We offer no down financing for Non Owner Occupied homes for the real estate investor and no down for the first time borrower with damaged credit.

One of the best investments is real estate, but for many potential buyers, the problem is coming up with a down payment to make this all-important purchase. This does not have to be the case.

The following are just a few of the examples of how we find 100% financing.

HUD Homes- The Office of Housing and Urban Development (HUD) offers special financing for first-time home buyers. This program is based upon need and is designed to allow low-income families to obtain their first home without a significant down payment or closing fees. Also, many HUD foreclosure homes require no down payments.

Job-Related Federal Programs- The federal government also has programs to help farmers and police personnel acquire homes with nothing down. For those with limited income who wish to live in rural areas, the Rural Economic and Community Development Administration offers farmers home loans with nothing down. Monthly payments may be subsidized and the interest can be as low as 1 percent. To encourage police to occupy homes in crime-targeted areas, special federal programs permit police officers to purchase homes in selected areas with nothing down. Information is available to law enforcement officers through their places of employment.

VA Loans - The method of purchasing a home with no money down that most people are familiar with is through the Department of Veterans Affairs, or VA. This benefit is available to active and retired members of the military service, veterans, POW's and MIA's and their unmarried widows. All branches of the service including the Coast Guard are eligible. Also members of Selected Reserves or National Guard who have completed six years may be eligible.

VA Foreclosures- What many people do not know is that you do not have to be a veteran to purchase a VA foreclosure with nothing down. VA foreclosures are available to the general public. Some require nothing down or just a fee of $500. Although the homes are sold from the VA, purchasers must obtain conventional or FHA financing unless they are veterans or active military. VA foreclosures with nothing down or $500 fees can be found among those from banks, lending institutions and federal agencies.

Owner Financing, Lease-Purchase - If a glut of unsold homes develops in a market, some sellers -- especially those in a hurry -- become willing to assist the buyer. There may be additional pressure on sellers of used homes when they compete with builders in their areas who fund down payments on new homes. These sellers may agree to lease-purchase or owner-financing plans. In both cases, purchasers do not pay down payments to acquire the properties.

House Trading, Lines of Credit - Many investors acquire zero down financing by trading one property for another. In some cases, they trade one large property for several smaller rental properties. Or they trade houses in different cities to acquire a vacation or retirement home. Property trading is also a legal way to avoid the capital gains associated with selling a property. Another way to acquire a property may be with a line of credit secured by the equity in another property. This allows the homeowner to purchase another property using the accumulated equity without selling the original property.