What is 100% Mortgage Financing?

The 100% financing loan is designed to offer homeownership opportunities to borrowers with good credit but who lack the ability or desire to make a down payment on a home. It provides an option for those who wish to invest their savings in assets other than their home. This type of financing is popular among both first-time home buyers and experienced home buyers, and you can use 100% financing for a purchase or a refinance.

The fixed-rate loan is also available for the construction and home improvement of an owner-occupied primary residence. While you are not required to make a down payment, you must have 3% in the transaction. These funds are applied toward your closing costs and may come from your funds, a gift from a relative, a grant, or the sale of assets you own. To learn more about 100% financing, reach out to Hansen Mortgage Services, Inc now.