No Money Down Loans ? We Have Them !
By Sherry Brady , Branch Manager , Apex Home Loans , Inc .
If you ’ re a first-time homebuyer and haven ’ t had the opportunity to save much for a down payment on a home yet , or even if you ’ re a move-up buyer who won ’ t have a down payment for your next home , but you want to buy and take advantage of today ’ s amazingly low rates , we have loan options that will help make that dream come true ! There are multiple loans we can offer which provide 100 % financing of the purchase price of your dream home .
USDA loans are excellent loans if you meet the qualifications . They provide financing for 100 % of the purchase price . You don ’ t have to be a first time homebuyer , but you can ’ t own any other property after this loan closes , and the home you are buying has to be in a county ( it can ’ t be in Lynchburg City ). There are also household income limits to qualify for this loan , but they are generous and most first-time homebuyers can qualify . We can help you determine whether the home you want is in an eligible area and make sure that your credit and income are eligible . This is an excellent loan option if you qualify for it .
VHDA loans can also provide up to 100 % financing using VHDA ’ s Plus 2nd loan option . This Plus loan can be combined with an FHA loan or a Conventional loan to make up 100 % financing of the purchase price . It can be used to buy a home anywhere in the state of Virginia , even in areas where the USDA loan cannot be used . There are income , sales price , and acreage limits for this program , and you must also be a first-time homebuyer for most of their loan programs .
FHA loans are the least restrictive . There are no income limits , or restrictions on location , but there is a loan limit . For Lynchburg and surrounding counties , that limit is $ 331,760 . You must have 3.5 % down for this loan , but Gift Funds are allowed . This loan is the also the most forgiving of lower credit scores , limited credit , and past credit issues .
VA loans are specifically for Veterans with qualifying service time . A VA loan provides for financing of 100 % of the purchase price . If you ’ re a disabled vet , you are exempt from the funding fee , and a tremendous benefit of all VA loans is that there is no monthly mortgage insurance on this type of Mortgages generally fall into two broad categories : Conventional or Government .
Rates remain extraordinarily low , and our housing market is still incredibly active ! Are you ready to get preapproved ? Whether you need 100 % financing , or you ’ ve been able to save a down payment , we have a loan solution for you ! We have virtually every loan program available , so we can help ! With Conventional , VA , FHA , USDA , and VHDA loan options , Apex ’ s highly qualified and experienced team is ready to help you ! Go online to
www . LynchburgLender . com and get to know our team ; or call us at 434-237- 1027 and let us help you GET MOVING !
Sherry Brady , Branch Manager and Senior Mortgage Lender , NMLS # 217258 , Apex Home Loans , NMLS # 2884 , nmlsconsumeraccess . org , Equal Housing Opportunity .
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