Post housing crisis, mortgage underwriting is thorough, overbearing and at times non-nonsensical. Some say it borders on harassment. Gone are the days of “liar loans” and no doc loans and good riddance. However, while underwriters continue to scour every inch of your financial past, lenders are again offering 100% financing and other programs where a […]
A few years back, there were several 100% or no money down financing programs available. Many were quite dangerous, had adjustable rates or negative amortization and were a major contributor to the housing crisis. The 3 programs I will examine in this article are all 30 year fixed rate programs and much safer. One is from a local bank, one from the Virginia Housing Development Authority (VHDA) and one is from a credit union.