Please Note: This loan program is no longer availabe. Please check back soon for updates.

No Money Down Mortgage

A No Money Down Home Purchase loan is useful for people who can afford to make monthly mortgage payments, but have never managed to save up enough money for a down payment.  A No Money Down home purchase is the type of loan that helps you jump from renter to homeowner status.

In many areas of the country monthly mortgage payments do not differ greatly from monthly rent payments and being a homeowner you will reap tax and other financial  benefits that renters are not eligible for.  In addition there are ways to finance your closing costs so that you out of pocket expenditures for the entire purchase of a home are limited to the cost of an appraisal and home insurance for the first year, the total of which are usually less than $900.  Financing  100% of the cost of a home purchase has put millions of families into homes and allowed them to begin building equity in their own home. 

Many No Money Down mortgages are structured with what is called a "piggyback mortgage loan".  This is essentially two loans that comprise the 100% purchase price that you need.  You'll get a first mortgage of 80% of the purchase price and a second mortgage of 20% of the purchase price which will equal the 100%.  The reason the mortgages are done in this fashion is to help you avoid paying PMI mortgage insurance.  This saves thousands over the life of the loan and reduces your monthly mortgage payment.  And all of the interest you pay on both the first and second mortgage is tax deductible.

Our No Money Down mortgages are also available for the self employed and for those that need a no income verification or stated income loan programs.  Apply online today or call our 24 hour loan center and speak to a No Money Down mortgage specialist.  Your pre-approval is absolutely free with no obligation. 

Action Mortgage Corp. has access to several No Money Down mortgage programs with low rates and flexible terms.  You can apply online for Buying A Home With No Money Down or contact one of our loan specialists thru our 24 hour loan center at toll free and speak to them regarding our No Money Down Home programs.  Our No Money Down loans are available for borrowers to purchase a one thru four family home or condominium.  We have a Buying A House With No Money Down loan for just about every home purchase situation including mortgages for borrowers with fair or poor credit.  No Money Down Home mortgages allow you borrow up to 100% of the purchase price of your home with a minimum, middle credit score of 600.  These loan programs are available to you even if you are a first time home buyer, 1st time home buyer and you can also use our No Money Down mortgages to purchase a second home for investment home or vacation home.   We have access to many No Money Down Home lenders that specialize in Buying A Home With No Money Down and we tailor a no doc or full doc mortgage program to meet your specific financing needs.  Our no down payment mortgages address all credit profiles and you can obtain a loan even if you were recently discharged from bankruptcy.  These loan programs are available for both the self employed and wage earner borrowers and all of our loan programs require a minimum of a 2 year work history, whether you are self employed or work for a company, getting paid on a w-2.  Buying A House With No Money Down home loans are good for prospective borrowers who may be in a self employed cash business or simply for those that don't want to go through the extra paperwork so they opt for No Money Down Home loan programs. Apply online or call today for our No Money Down home mortgage purchase programs.