100% Financing Options
There are several options for 100% financing on a new home. This is the equivalent of zero down payment.
VA Loans and VA Jumbo Loans
VA Loans are available up to $2m with no down for Veterans with full VA Entitlement available. However Veterans with less than full Entitlement can still qualify to purchase a home with another VA Loan. This is where the county VA Loan Limit comes into play. The County VA Loan Limits start at a base of $647,200. Most USA counties are at $647K for VA Loans. Higher cost areas can have VA Loan Limits up to $970,800. Veterans with a current charge against their VA Entitlement may be able to purchase another home with zero down, or they may be required to make a down payment to reach the minimum VA Guaranty. Give us a call and we will help you navigate your options.
VA Loans that exceed $647,200 are known as VA Jumbo Loans or VA High Balance Loans. High Cost counties include Los Angeles, San Francisco, Alameda, San Diego, Orange, Santa Clara, etc. We allow qualified Veterans and Active Duty Military Buyers to exceed the County Loan limit, usually requiring a down payment equivalent to 25% of the purchase price that exceeds the county loan limit, and calculating their remaining VA Entitlement into the figures. If you have a current charge against VA Entitlement of $200K, and would like to purchase a home for $647K home in Riverside California, where the VA loan limit is $647K, the minimum down payment is $25K. Please be sure to contact us for help with your VA Loan Questions or to get started on your VA Loan.
USDA RD Loans
USDA RD Loans (aka Rural Development) allow for up to 100% financing. These loans are available in many less densely populated areas. Please visit our USDA Rural Development page for detailed info.
Down Payment Assistance Programs
We offer FHA Down Payment Assistance Loans in all of our states. FHA Down Payment Assistance is typically a small second mortgage that can reduce your down payment to zero and even help cover some of your closing costs.
These programs are paired with both FHA and Conventional loans. Call for availability of Conventional Down Payment assistance options, as they vary by state.
Some of the down payment assistance options are even forgivable. Zero down FHA and Zero down conventional loans are secure and safe ways for First Time Homebuyers to get into your home sooner, without waiting for the savings to put a down payment on your home.
Get Started Here Online for your VA Loan Approval or Call us Direct at 866-900-2342 toll free