100% financing – Cari DeCandia Group- Raleigh, NC

100% Financing is Still Available

There is no doubt that many changes have occurred within the mortgage industry over the last year. One of the major guideline changes has been the virtual elimination of 100% financing. This, of course, is due to the increased risk associated with this loan to the banks.

There are loan programs which still allow 100% financing. The most common are: VA loans and USDA loans.

USDA is a traditionally rural development loan, however many counties within NC qualify for this program. Eligibility is subject to the specific property. There are many benefits to this loan including:

*Low credit score requirements (620 minimum)

*100% Financing with NO Mortgage Insurance (PMI)

*Aggressive Interest rates (similar to conventional rates)

*Alternative tradelines accepted

VA Loans are reserved for military personnel and you can read more about this product at Government Loan Programs.

There are other types of 100% financing programs available through SunTrust such as a grant program through NC Housing as well as a doctor program.

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