Posted on: 20th Jan, 2014 01:18 am
Home buyers with little savings for down payment have now more mortgage options. As the economy is recovering from housing crisis, the low or no down mortgages are again becoming popular options for the home buyers. Apart from some government-insured loans, many credit unions are now coming out with these types of loans.
In case of some loans, there is no mortgage insurance on the mortgages, but a 2% guarantee fee is added and rolled into the loan.
It should also be noted here that NFCs no down program resembles the Vs, although the funding fee of 1.75% is significantly less than the VA loans.