No down payment? No problem, say lenders eager to finance homes

 

Source: Kenneth Harney, Washington Post ( Paid Registration )

They were all the rage — then the scourge — of the housing boom and bust. Now they’re back, big time: home mortgages that require tiny or zero down payments from buyers.

Several major lenders are offering loans with 1 percent down, and now a large national mortgage company has gone all the way, requiring absolutely nothing down. Movement Mortgage, a top-10 retail home lender, has just introduced a financing option that provides eligible first-time buyers with a nonrepayable grant of up to 3 percent.

Read Full Article: No down payment? No problem, say lenders eager to finance homes

 

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