Zero Down is a mortgage loan program which allows the homebuyer to have no down payment and borrow 100% of the purchase price of the their home. It is well suited for:
 | People who have ample current income but lack down payment savings |
| Homebuyers with excellent credit but not a lot of savings |
| First time homebuyers who have had trouble saving for a down payment |
| People who want to purchase a larger home without a large down payment. |
There are other costs associated with
purchasing a home such as taxes and insurance.
This program requires at least 3% cash contribution from the home buyer to cover these closing costs and pre-paid items.
Example:
| $150,000 x 3% $ 4,500 |
If the purchase price of a home is $150,000. The homebuyer can secure a 100% loan for the $150,000 price of the home. The approximate cash requirement from the homebuyer at closing is $4,500*. |
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*The cash contribution can be from savings, a gift, a loan or from other qualified sources. Talk to your Pinnacle Mortgage Loan Officer for details |
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We're happy to answer your
questions.
Contact us at 970-204-4509 or email your questions to
loans@pinnalcema.com