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What is a 100% mortgage financing loan?

A 100% mortgage financing loan is also called a zero-down-payment mortgage or a no-money-down mortgage. It allows you, the borrower, to finance 100% of a home’s purchase price without making a down payment. What Are the Pros & Cons of 100% Mortgage Financing? This type of mortgage loan may sound enticing, especially for first-time homebuyers.

What is a 100 percent financing home loan?

One hundred percent financing home loans are mortgages that finance the entire purchase price of a home, eliminating the need for a down payment. New and repeat home buyers may be eligible for 100% financing through nationwide government-sponsored programs. Check your eligibility for a zero-down mortgage now. Start here (Aug 16th, 2024)

What is the maximum loan amount for a 100% financing mortgage?

The maximum loan amount for the 100% Financing mortgage loan is $766,550. Can I use a 100% Financing mortgage loan for the purchase of a second home or investment property? No. A 100% Financing mortgage loan is for the purchase of a primary residence only.

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