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Zero Down Loans For First Time Buyers in Sterling Heights

If you're a first time buyer in Sterling Heights MI and you are interested in a 0 down payment home loan, you will notice you have three opportunities. Each one of these options will have direct guidelines that have to be followed allowing you to put nothing down when buying your new house. Below you will notice a couple options available to you as a first time home buyer in Sterling Heights Michigan.

The Michigan USDA Rural Development Loan

The first choice for a 0 down payment mortgage is the USDA's Rural Development mortgage. This mortgage loan requires no down payment but is subject to an up front mortgage insurance premium and it also has geographic and income restrictions. Call us at 248-674-6450 and mortgage broker will inform you if the USDA Rural Development home loan is best for you.

MSHDA Down Payment Assistance


Another thing to consider on 0 down mortgage loans for first time home buyers in Sterling Heights Michigan is looking into state departments such as the MSHDA. MSHDA has services for down payment help that can be used along with FHA loan financing. The loan can total as much as $7,500 and does not force you to make any payment nor will it accrue interest but it has to be paid off if you want to refinance or sell your house. There happen to be other rules to the Michigan State Housing Development Authority down payment assistance program such as your loan total along with your household income as it was created to help those earning lower to moderate incomes.

Local or Federal Grants

The last resource I know of on zero down home loans for first time home buyers in Sterling Heights Michigan is to look into any federal money designated to Sterling Heights for neighborhood stabilization programs. You could observe more about the programs that could be offered in your city by reaching out to your townships community development representative which can be searched on the web.

If you'd like more info on zero down home loans for first time home buyers in Sterling Heights Michigan call 248-674-6450 right now!

Accurate Mortgage Payment Calculations on The Go
Our mortgage app allows borrowers to calculate mortgage payments using up to date mortgage rates as well as accurate mortgage insurance premiums based on product and credit score

Designed with ease of use and accuracy in mind

Most mortgage calculators force users to input unknown data like mortgage rates or mortgage insurance. Without the correct data these calculations become worthless. Our app populates this data for the user based on up to date mortgage rates and accurate mortgage insurance quotes based on loan product and credit score.

Buit-in convenience within the admin area

The app has a really cool admin area that allows you to securely scan and send important mortgage documents right from your phone. No need for a fax machine or a scanner when our app will do the job.

Install on your phone for easy access 24/7

Our mortgage app can be installed by simply entering your mobile number and opening a text. Once installed, you'll have full access to the app and be able to perform unlimited mortgage calculations for any available mortgage product. This allows you to accurately compare different mortgage products on the go.

All mortgage calculations are saved

You can review any of your previous mortgage calculations from within the app. This makes it easier to compare different mortgage programs as well as other loan parameters. This can save you from running the same numbers over and over again.

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Comments

  • Ryan Turner
    October 28, 2011

    I think this is a real great blog. Really Great.

  • Cheryl Jenkins
    October 31, 2011

    Thanks for the blog article.Really looking forward to read more. Really Great.

  • Aaron Daniels
    November 3, 2011

    Im thankful for the article post. Much obliged.

  • Kristy
    January 8, 2012

    I just passed this article on to my sister! She's looking for a house in this area.

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