to get around mortgage insurance. It is called the 80/20 loan. What in the world is that? Well basically you would get two loans. One for 80% of the total price of the home, the other 20% of the price of the home. These two loans can close at the same time. And then you wouldn't have to pay that pesky mortgage insurance. Typically you can get a pretty good rate on Is it possible to get a home loan with no money down? Sure thats possible. But your going to need a good FICO score to help you. And you may have to pay a little thing called MI or Mortgage Insurance. Lets get to the specifics!

Lenders don't like to do 100% loans. They just don't like to. In their eyes if you don't have anything invested in your property you are more likely to default on the loan. They think that you wont care about your home if you don't have a down-payment. Now you and I both know thats not true. You know that you will love your home and you just don't have enough for a 20% down-payment. With the prices of homes these days who does? You are tired of paying rent that could be going towards building equity, security, and your future. Lets face it if you are paying rent you are pretty much throwing your money away, and giving it to someone else who is making money off of you.

So you want to buy a home with no money down? There are a couple of things you need to know. Like I said earlier lenders don't like owners who aren't invested in their properties. It is possible to get a no money down loan and then you will be paying something called mortgage insurance. This is basically the lenders guarantee that they will recoup their money if you default on the loan. When you reach 20% equity in your home you can cancel this insurance and you may be entitled to a refund of some of it. The industry has come up with a solution to get around mortgage insurance. It is called the 80/20 loan. What in the world is that? Well basically you would get two loans. One for 80% of the total price of the home, the other 20% of the price of the home. These two loans can close at the same time. And then you wouldn't have to pay that pesky mortgage insurance. Typically you can get a pretty good rate on

are more likely to default on the loan. They think that you wont care about your home if you don't have a down-payment. Now you and I both know thats not true. You know that you will love your home and you just don't have enough for a 20% down-payment. With the prices of homes these days who does? You are tired of paying rent that could be going towards building equity, security, and your future. Lets face it if you are paying rent you are pretty much throwing your money away, and giving it to someone else who is making money off of you.

So you want to buy a home with no money down? There are a couple of things you need to know. Like I said earlier lenders don't like owners who aren't invested in their properties. It is possible to get a no money down loan and then you will be paying something called mortgage insurance. This is basically the lenders guarantee that they will recoup their money if you default on the loan. When you reach 20% equity in your home you can cancel this insurance and you may be entitled to a refund of some of it. The industry has come up with a solution to get around mortgage insurance. It is called the 80/20 loan. What in the world is that? Well basically you would get two loans. One for 80% of the total price of the home, the other 20% of the price of the home. These two loans can close at the same time. And then you wouldn't have to pay that pesky mortgage insurance. Typically you can get a pretty good rate on

uity, security, and your future. Lets face it if you are paying rent you are pretty much throwing your money away, and giving it to someone else who is making money off of you.

So you want to buy a home with no money down? There are a couple of things you need to know. Like I said earlier lenders don't like owners who aren't invested in their properties. It is possible to get a no money down loan and then you will be paying something called mortgage insurance. This is basically the lenders guarantee that they will recoup their money if you default on the loan. When you reach 20% equity in your home you can cancel this insurance and you may be entitled to a refund of some of it. The industry has come up with a solution to get around mortgage insurance. It is called the 80/20 loan. What in the world is that? Well basically you would get two loans. One for 80% of the total price of the home, the other 20% of the price of the home. These two loans can close at the same time. And then you wouldn't have to pay that pesky mortgage insurance. Typically you can get a pretty good rate on

s possible to get a no money down loan and then you will be paying something called mortgage insurance. This is basically the lenders guarantee that they will recoup their money if you default on the loan. When you reach 20% equity in your home you can cancel this insurance and you may be entitled to a refund of some of it. The industry has come up with a solution to get around mortgage insurance. It is called the 80/20 loan. What in the world is that? Well basically you would get two loans. One for 80% of the total price of the home, the other 20% of the price of the home. These two loans can close at the same time. And then you wouldn't have to pay that pesky mortgage insurance. Typically you can get a pretty good rate on to get around mortgage insurance. It is called the 80/20 loan. What in the world is that? Well basically you would get two loans. One for 80% of the total price of the home, the other 20% of the price of the home. These two loans can close at the same time. And then you wouldn't have to pay that pesky mortgage insurance. Typically you can get a pretty good rate on the first 80% loan. However the second loan is always higher. You might even see the second rate at about 9%. Your loan may look something like this. 80% @ 6.5% and 20% @9.0% .

Now you don't have to stick with these two loans once you get them. When your property reaches 20% in equity even if it just appreciates in value, you can then refinance both loans into one fixed rate loan. Its all up to you. You should talk to your loan officer/broker about the different programs for no money down loans, if you don't have 20% down. Word to the wise. Choose your Loan officer carefully.