A Few 100% Financing (No Down Payment) Programs

Well, you may have heard that the Down Payment Assistance (DPA) programs were shut down by the U.S. government as of October 1, 2008. The FHA program is still running but will now require the 3.5% down payment to come from the buyer or as a gift from a family member. But fear not my friends, there are still 100% loan programs available. If you do not have the 3.5% available for an FHA guaranteed loan, here are a few alternatives:

USDA Rural Development - This is a 100%, no down payment loan option without monthly mortgage insurance. Available in the following major housing areas near Phoenix: Buckeye, Maricopa, Queen Creek, and Waddell.

VA Loan - 100%, no down payment loan option without monthly mortgage insurance. This program is available across the valley to veterans and current members of the U.S. military. Thank you for your service!