No Down Payment Mortgage
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Live the Dream in the Home of Your Dreams
You know you can afford a mortgage payment, but coming up with a hefty down payment seems out of reach. At Members First, we understand - and we're here to help.
With our No Down Payment Mortgage, purchasing a home is a whole lot easier. Whether you put some money down, or no money - you can live the dream!
Apply now or reach out to a helpful mortgage representative by email or phone at (800) 860-3832 or (603) 622-8781, ext 780 to learn more.
The Fine Print
The No Down Payment Mortgage is made up of a first
mortgage equal to 80% of the purchase price, and a second mortgage in the
amount of 20% of the purchase price. In no event shall the total of the 2
loans exceed the purchase price or appraised value, whichever is less. An
escrow account for property taxes, homeowners insurance and flood insurance (if
required) will be established at closing. Homeowners insurance is
required. All Borrowers on the loan must be owners of the property.
Only 1-2 Unit Primary Residences are permitted. Rates and terms for the
loans vary, and are based on your credit history. Applicants must meet
all program criteria including but not limited to income, monthly debts, credit
history and assets to be eligible. Minimum credit score of 660 for all
borrowers is required.