Zero down home loans are the answer to many renters dreams!   The zero down program provides an opportunity for those with little or no money for a down payment to become a home buyer. The new program i an FHA 96.5% first mortgage along with a 3.5% second mortgage.  This second mortgage is is not just available for those with limited income.  This program is available to all qualified  home buyers.  FHA limits are capped per county and the 2016 limits and more information  on the zero down program is available at the Zero Down California website.

FHA allows lower credit scores and higher debt ratios than typical conventional loans.  The less restrictive guidelines are because the loans are insured by the Federal Government.   FHA is the Federal Housing Authority.   FHA does not provide loans or financing.  Rather, they insure loans that are originated by private lenders.

For additional information on FHA loans, zero down loans, or any type of home financing, contact Midas Realty Group and ask to be referred to one of our recommended lenders.

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