Items Tagged with 'zero down mortgage'

ARTICLES

  • Monday Morning Cup of Coffee: Gloves come off in Warren vs. Mulvaney

    CFPB architect accuses acting director of being evasive and misleading about agency
    The battle between Sen. Elizabeth Warren, D-Mass., and CFPB Acting Director Mick Mulvaney just hit a whole other level. Warren, the architect of the CFPB, accused Mulvaney of ignoring or providing “evasive, misleading, or incomplete answers” to more than 100 questions asked of him by Democrats about the CFPB's activities. But Warren’s letter isn’t just tough talk. As the kids say, she’s got receipts.
    Read More
  • Flagstar rolls out zero-down mortgage with closing cost aid for low-income borrowers

    Bank will also provide up to $3,500 for closing costs
    Flagstar Bank is targeting low- to moderate-income borrowers with a mortgage offer that’s seemingly too good to be true. The program, which Flagstar introduced earlier this week, requires no down payment from the borrower and also provides the borrower with closing cost assistance. Here are the details.
    Read More
  • PhysicianLoans rolls out $750,000 mortgages with no down payment, for doctors only

    Lender says physicians maintain near perfect delinquency rate
    PhysicianLoans, an Ohio-based mortgage lender that specializes in loans for medical professionals, announced recently that it is now offering a $750,000 mortgage with no down payment requirement and no private mortgage insurance. The loan is available to medical doctors, dentists and veterinarians, only.
    Read More
  • Freddie Mac kills 1% down payment mortgages

    Borrowers must now use their own money for entire 3% down
    Freddie Mac announced it is changing the requirements to its low down payment mortgage program and will no longer allow lenders to contribute gifts or grants to reach the 3% down requirement. Borrowers must now front the entire 3% down payment from their personal funds, meaning the industry can say goodbye to the 1% down mortgage, at least from Freddie Mac.
    Read More
  • One year later, here is how Fifth Third's no-down mortgage program is performing

    Firsthand account from a borrower, too
    This time last year, Fifth Third Mortgage revealed its exclusive Down Payment Assistance Program, which offered 3% of the purchase price in down payment assistance, leaving the borrower to put zero down on the home. Since no-down mortgage programs are still hard to come by, HousingWire visited with the lender for an update on the program to see how it’s performed. Spoiler alert: It’s performing well.
    Read More