Low Down Payment Loans

There are still low down / zero down loan programs available to you!!!

Conventional Financing – Maximum Financing is now 95% of the purchase price in “declining markets” 100% in “non-declining markets”.  Seller’s concessions of 3% - 6% of the purchase price are allowed to cover closing costs and escrows.  This program is geared towards the buyer that doesn’t qualify for other low down loan programs.

FHA Financing – Maximum Financing is 97%.  A 3% down payment is required and can be gift money.  Seller’s concessions are allowed up to 6% of the purchase price.  Each County has a maximum qualifying loan amount.  You must meet standard debt ratios’ when qualifying for this program.

Rural Home Loans – A Government insured loan allows 100% financing with zero down payment.  Income Limitations and property restrictions apply.  Seller concessions are allowed and closing costs may be rolled into loan if property appraises adequately.

Contact a Michigan United Mortgage Loan Specialist today to talk about your loan options and what you may qualify for.  We look forward to working with you to put you in your new home!