0% Down is Back

This is good news (at least I think so) in that it signals a loosening of credit. That said, this is NOT a path for everyone. There is a lot to be said for showing creditors the capability and willingness to repay by putting some skin into the game and demonstrating the discipline to save a down payment for a home.

However, if you are one of the few for whom this is the right mortgage product, here are some $0 down program highlights from one local lender:

•             FICOs from 620+ can qualify

•             Loans up to $1.2 Million available

•             Bankruptcy, Foreclosure and Short sale as recent as two years

•             30 year fixed rate

•             FHA Streamline refinance available

•             Can be used to purchase high-rise condominiums