100% Financing for Home Buyers Louisville KY

Many people dream to have their own houses, but money is really a problem. Learn how to go about getting a low to no money down mortgage loan.

Local Companies

Heleringer Mortgage Company
502-412-6162
1945 Alfresco Pl
Louisville, KY
Alliance Home Loans
(813) 929-6767
1939 Goldsmith Lane Suite 247
Louisville, KY
A+ Credit, LLC
502-459-2222
3801 Springhurst Blvd.
Louisville, KY
Liberty Mortgage of Ky, Inc.
502-425-8585 ex1
13121 Eastpoint Park Blvd
Louisville, KY
KEY FINANCIAL MORTGAGE
502.644.8008
107 South Hurstbourne Ln.
Louisville, KY
First Option Financial Llc
(502) 426-7898
800 Stone Creek Pkwy Ste 7A
Louisville, KY
First Alternative Mortgage Corp
(502) 583-4288
756 S 1st St
Louisville, KY
Title Matters
(502) 429-6428
6520 Glenridge Park Pl
Louisville, KY
Equity Mortgageservices
(502) 339-8391
661 S Hurstbourne Pkwy
Louisville, KY
Fifth Third Bank
(502) 964-3393
8003 Preston Hwy
Louisville, KY

How do you get a low to no money down loan?

First, talk with a qualified company that has experience with 100% financing and first time home buyers. Check local mortgage Web sites to see some innovative programs.

Second, find out how much you can afford based on your monthly income and budget. It is a good idea to add in all of your expenses so you are leaving room for entertainment. Yes, many people sacrifice a bit of their “Pleasure” expenditures when buying their first home. You will not be alone in this respect. Don’t forget the tax deduction you will receive as a home owner, in most cases. The tax savings should improve your monthly cash flow.

Third, get a good credit check up. You can visit http://www.freecreditreport.com and obtain a credit report on yourself. You should obtain the credit score version because they will be important on most 100% financing programs. Your scores should be somewhere above 640 or more to qualify for most programs, though some programs allow lower scores than that.

Forth, obtain a pre approval letter from your lender or broker so you can present this to your Realtor when shopping for your home. Make sure the terms and costs are accurate so you don’t have any surprises at the closing table.

Fifth, don’t bite off a larger payment than you can afford. Many times, lenders allow you to spend 50% to 55% of your monthly gross income on your credit items. This doesn’t always leave much for essentials like groceries and utilities.

Lastly, remember the first year of home ownership is usually the toughest. After a year or two, you can generally refinance your home loan into one loan that may be a better interest rate, depending on where interest rates are at the time of refinancing. The plan is to eventually have equity and start your nest egg growing.

About the Author:

Pete Wagner writes for California Mortgages Online ( http://www.californiamortgagesonline.com ). Learn more about California second mortgages at http://www.californiamortgagesonline.com/credit-solutions.html.


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Featured Local Company

Heleringer Mortgage Company

502-412-6162
1945 Alfresco Pl
Louisville, KY
www.webeatthebanks.net