No Money Down Purchases

Why make your landlord rich? With the purchase power you have at your fingertips, now is the time to take that step in becoming a homebuyer! With many different loan programs available the most popular of them all are the "No Money Down Purchases." You do not need to be a first time homebuyer to qualify for one of these programs. Here are a few options Alliant Mortgage has to offer:

FHA Mortgages: In today’s market, this is the most popular of loan options. The Federal Housing Administration made homeownership possible for people who might not have qualified for a conventional mortgage. This Mortgage is somewhat forgiving for people who have less-than-perfect credit due to various circumstances. This program allows for down payment assistance from one of our many Down Payment Assistance Programs along with the sellers contributions for your closing costs and prepaids, this mortgage allows for little money out of your pocket in becoming a homeowner!

RECD Loans: This is a very popular loan. This loan is for the low to moderate-income people who do not have money saved up for a down payment. This loan has geographic and income restrictions. This is a fixed rate payment and with the ability to use the appraised value to pay for the closing costs, this loan does not have the PMI or FHA insurances required by other 0 money down products.

Conventional flex 100 loans: With this loan, the new homebuyer with little money for a down payment, can bring in as little as $500 to get into a house. This program offers 2 different features. For those homebuyers who prefer to have one payment, this loan is at 100% with a little private mortgage insurance included in the payment until the house has been paid down to 80% of it’s value when the PMI may be removed. The second, and very popular choice is the 80/20 feature in which there is a first mortgage of 80% of purchase price as to avoid PMI insurance while using a second home loan to cover the remaining 20%. In time, maybe you want to concentrate on paying off the second mortgage leaving you with just one low first mortgage payment.

100% Conventional loans: Homebuyers who have demonstrated the ability to make payments as agreed over time can have a single payment without having to pay PMI.

80/20 Purchase Mortgages: This combination loan features a low rate on a first mortgage at 80%, while obtaining a second mortgage of 20% at the same time which mkes up 100% of the house value freeing up your money for new household goods.

VA Mortgages: This type of mortgage is insured by Department of Vetern Affairs, intended for veterans, reservists and active-duty service memebers in helping make purchasing a home more affordable financing 100% of the purchase price.

Stated income Mortgages: This type of mortgage is intended for homebuyers who can maintain their cash flow, who have good to excellent credit ratings, but have a hard time documenting their income.

Call us today to get you into the home of your dreams or APPLY right now!! We will see how much of a home you can afford and what program is best for you. By receiving a preapproval letter from alliant mortgage before you start your shopping for a new home. You will have an edge over your offer being accepted versus someone who is not preapproved so call us today for your approval letter. Don't let your credit stand in the way of becoming a homeowner, we have many programs to fit everyone, and we take the hassle out of your mortgage. 

SAME DAY LOAN APPROVALS !