One hundred per cent financing or no money down purchase programs have been commonplace in the mortgage market for the past several years. A word of caution to potential homebuyers though, as the housing markets in many areas start to see diminishing home values, many investors will back away from 100% financing. Dont make the mistake of thinking that just because such programs are available now that they will always be there.

While 100% financing options may not disappear altogether, there is already movement by some lenders to tighten up the criteria for granting these types of loans. In the future, to qualify for these programs, you may need higher credit scores and/or the ability to fully document your income and assets.

 

 ++