Minnesota Mortgage Blog - MN Mortgage and Real Estate News

Low down payment, zero down, 80/20's and the like were some of the first casualties of the mortgage and home market meltdown.

Zero Down Payment is Back in Minnesota!

Buy a Home with our Zero Down Affordable Advantage program. Yes it's Real -  New Program  -  Just Started August 16th, 2010

Basic requirements:
  • 100% financing, 30-yr fixed (with NO mortgage insurance)
  • Single family homes only
  • Min 680 credit score and less than a 45% debt-to-income ratio required 
  • Up to 3% seller paid closing costs
  • Zero Down - but Buyers MUST put $1,000 into the deal
  • Home Buyer Class Required  (we'll help you sign up)
  • Available anywhere in Minnesota
  • First time home buyers (or have not owned a home in the past 3 years) 

Getting started is easy, and requires two simple steps:

  1. Sign-up for the required first time home buyer education class
  2. Fill out a full mortgage application (apply online or call (651) 705-6261)

NOTE: Not all lenders are able to offer this program. Only a limited number of lenders, in conjuncction with the Minnesota Housing Finance Agency, are authorized to provide this zero down home loan program. Mortgages Unlimited is proud to be one of the few participating lenders.

Posted by Joseph Metzler, MLO, MMS on September 8th, 2010 8:59 PMPost a Comment (0)

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33 Wentworth Ave E, St Paul, MN 55118
(651) 552-3681

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