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These
type of loans are designed for first-time home buyers making
it affordable to buy a home you can qualify for and live in.
These types of loans are also becoming popular with real estate
investors.
| 103
Percent Loan to Value, Zero Down Plus: |
- Mortgage
up to 100% of the purchase price
- Closing
costs may be financed up to an additional 3%
- Good
credit is required
- These
are available on 15 and 30-year fixed-rate programs
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| 80/20
(80 percent first mortgage plus a 20 percent second mortgage): |
- No
down payment is required
- These
are available on 15 and 30-year fixed-rate programs
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