100% FINANCING? YES, IT EXISTS!Posted: July 11, 2019
While it isn’t as available as it once was, there are still some financing options that do cover 100% of the purchase price of the home!
- VA offers 100% financing with NO DOWN, no PMI (private mortgage insurance), closing costs can be paid by the seller.
- USDA Guaranteed Rural offers 100% financing, fixed rates, gift funds allowed for closing costs and allows for new construction.
In addition, purchasing a Nome Sweet Home requires much less than the 20% downpayment required in the lower 48. The FHA downpayment is only 3.5%, and the HUD184 for Alaska Natives is typically only 2.25% down.