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Zero Down
Payment
Understanding
No Down (Zero
Down) Payment
Loans
New loan
programs
introduced by
lenders allow
you to make no
down (zero
down) payments
on your new
home purchase.
This means
that you will
be financing
100% of your
home's total
value. These
new loan types
were created
because
property
values are
continually
rising, and
this generally
helps
homeowners to
create equity
in their home.
Nowadays, it's
much easier
for lenders to
ensure that a
potential
client is
qualified by
simply
checking their
background.
Who
should use a
No Down (Zero
Down) Payment
Loan?
For most
people, it may
be difficult
to put a 20%
down payment
on a house.
Therefore, a
no down
payment loan
is the only
way that most
borrowers can
afford to
purchase a
home. There
are several
advantages
that borrowers
gain by using
a no down
payment
option.
Borrowers can
use their
extra money
they have
saved in order
to purchase
furniture or
other
necessities
for their new
home. Another
advantage is
having the
ability to
lock into a
specific home
before it
appreciates
beyond the
amount you are
willing to
pay. A
borrower could
also lock into
a home sooner
in order to
reap the
benefits from
the home's
appreciation.