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Zero Down Mortgage

Are you eligible for a zero down mortgage?

When you are interested in owning a home but don’t have the money for a large down payment, you may qualify for a low or zero down mortgage.

Most home loans require a down payment of at least 20 percent, which can equal tens of thousands of dollars or more. That’s more money than many first-time home buyers can afford, and it can even be a problem for repeat homebuyers with homes that have not appreciated significantly in recent years.

There are a number of home ownership programs with mortgage deals that offer low or zero down mortgage options. To see if you are eligible, consult the helpful mortgage specialists at eLEND.

Find a zero down mortgage with eLEND.

eLEND is a mortgage company that strives to provide first-time buyers and existing homeowners with options for affordable home mortgage rates. We also work to make the mortgage process simple by providing educational resources and using the latest technology to streamline your experience. Our Mortgage Loan Originators are dedicated to providing remarkable and consistent service with a personal touch to meet all of your home financing needs.

When you come to eLEND for help in finding affordable home loan rates, we can help you determine whether you are eligible for a low or zero down mortgage with one of these programs:

  • USDA mortgages. Backed by the US Department of Agriculture, the USDA Rural Housing Loans program provides zero down mortgage options to borrowers with lower income who live in rural parts of the country, in order to promote homeownership and community growth in underdeveloped areas of the country.
  • VA loans. The Department of Veterans Affairs has established a program offering zero down mortgage loans to veterans, qualifying active duty members of the military, and surviving spouses of US military personnel.
  • FHA loans. While they do not offer zero down mortgage options, FHA loans are backed by the Federal Housing Administration and make it possible for eligible borrowers to put as little as 3.5% down on a home purchase.

Refinancing your home with a zero down mortgage.

In addition to buying a new home, it’s also possible to refinance your current home with a low or zero down mortgage. If you qualify for a USDA or VA refinance mortgage, you may be able to refinance as much as 100% of the value of your property, while those eligible for an FHA loan may be able to refinance up to 97.75%.

Learn more about a 0 down mortgage with eLEND.

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