Zero Down

Multiple options exist for Zero Down programs!

Zero down programs allow you to buy your home now, instead of waiting to save enough for a down payment.

There are several options available for buying a home with zero down.

Get one new loan at 100 percent loan-to-value (LTV). PMI (Private Mortgage Insurance) is usually required, and the insurance charges may not be tax deductible.
Get an 80 percent first loan and a 20 second (piggy-back or 80/20) loan. This program does not require PMI, and all interest is tax deductible.
Get a new first loan and have the seller carry back a second loan for the balance of the purchase price.

Some zero down programs allow you to borrow 3 to 7 percent of the purchase price to pay your closing costs. Ask your loan officer if you qualify for any of these programs.

PMI is an additional charge you pay if you make less than a 20 percent down payment. This insurance policy protects the lender in the event of a payment default or foreclosure, and the loan is not paid off in full. The PMI payment ranges from 0.19 percent for a fixed rate loan with a 15 percent down payment; up to 1.09 percent with zero down; and as high as 1.34 percent on a zero down variable rate.

Contact Mitch Wilcox today to learn more!

Mitch Wilcox - Response Mortgage Services -
Office Phone: 541-693-8827 Fax: 541-693-8819 Cell Phone: 503-939-6572
Toll Free Phone: 800-330-4606

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Mitch Wilcox

Office: 541-693-8827

Toll free: 800-330-4606

E-mail: HomeLoansNow@hotmail.com

Central Oregon/State of Oregon Mortgage/Home Loans

Bend, Oregon 510 NE 3rd St. Bend, OR 97701

Redmond, Oregon 538 SW Highland Ave. Redmond, OR 97756

Corporate Website: responsemortgage.com/Mitch Wilcox