No Money Down Loans

<body topmargin=0 leftmargin=0 marginheight=0 marginwidth=0> <table cellpadding=0 cellspacing=0 border=0 height="100%"><tr> <td valign="top" colspan=2 height=165 BGCOLOR="#99CC66" TEXT="#080000"> <div> <FONT SIZE="5" COLOR="#009900" FACE="Times New Roman" ><A HREF="index.htm" TARGET="_top" TITLE="Mortgage Finance and Home Loans"><I><B><IMG SRC="109dc5b0.png" border=0 width="220" height="91" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></B></I></A><I><B>Mortgage Finance and Home Loans</B></I></FONT><I><B>    </B></I><I><B> |     </B></I><A HREF="index.htm" TARGET="_top" TITLE="Mortgage Finance and Home Loans"><I><B>home</B></I></A></div> <div> <A HREF="id24.htm" TARGET="_top" TITLE="Fixed Interest Loans"><I><B>Fixed Interest Loans</B></I></A><I><B>   |   </B></I><A HREF="id25.htm" TARGET="_top" TITLE="Adjustable Rate Mortgages"><I><B>Adjustable Rate Mortgages</B></I></A><I><B>   |   </B></I><I><B>No Money Down Loans</B></I><I><B>   |   </B></I><A HREF="id27.htm" TARGET="_top" TITLE="Interest Only Loans"><I><B>Interest Only Loans</B></I></A><I><B>   |   </B></I><A HREF="id30.htm" TARGET="_top" TITLE="Line of Credit"><I><B>Line of Credit</B></I></A><I><B>   |   </B></I><A HREF="id32.htm" TARGET="_top" TITLE="Home Construction"><I><B>Home Construction</B></I></A><I><B>   |   </B></I><A HREF="id34.htm" TARGET="_top" TITLE="First Time Buyer"><I><B>First Time Buyer</B></I></A><I><B>   |   </B></I><A HREF="id35.htm" TARGET="_top" TITLE="Second Mortgage"><I><B>Second Mortgage</B></I></A><I><B>   |   </B></I><A HREF="id37.htm" TARGET="_top" TITLE="Stated Income"><I><B>Stated Income</B></I></A><I><B>   |   </B></I><A HREF="id48.htm" TARGET="_top" TITLE="Find a REALTOR®"><I><B>Find a REALTOR®</B></I></A><I><B>   |   </B></I><A HREF="id49.htm" TARGET="_top" TITLE="Foreclosure"><I><B>Foreclosure</B></I></A><I><B>   |   </B></I><A HREF="id55.htm" TARGET="_top" TITLE="VA"><I><B>VA</B></I></A><I><B>   |   </B></I><A HREF="id57.htm" TARGET="_top" TITLE="Imperfect Credit"><I><B>Imperfect Credit</B></I></A></div> <bR> <div> </div> </td> </tr><tr> <td valign="top" width=165 BGCOLOR="#FFFFCC" TEXT="#080000"> <div> <I><B><IMG SRC="0ec925f0.jpg" border=0 width="146" height="95" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></B></I></div> <div> <A HREF="id60.htm" TARGET="_top" TITLE="Purchase"><I><B><IMG SRC="0cf92290.jpg" border=0 width="146" height="41" ALIGN="BOTTOM" HSPACE="0" VSPACE="3"></B></I></A><A HREF="id35.htm" TARGET="_top" TITLE="Second Mortgage"><I><B><IMG SRC="0d492290.jpg" border=0 width="146" height="41" ALIGN="BOTTOM" HSPACE="0" VSPACE="2"></B></I></A></div> <div> <A HREF="id30.htm" TARGET="_top" TITLE="Line of Credit"><I><B><IMG SRC="0d992290.jpg" border=0 width="146" height="41" ALIGN="BOTTOM" HSPACE="0" VSPACE="2"></B></I></A></div> <div> <A HREF="id16.htm" TARGET="_top" TITLE="Refinance"><I><B><IMG SRC="0d792290.jpg" border=0 width="146" height="41" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></B></I></A></div> <div> <I><B><IMG SRC="0dd92290.jpg" border=0 width="146" height="41" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></B></I></div> <div> <I><B><IMG SRC="0e092290.jpg" border=0 width="146" height="41" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></B></I></div> <div> <A HREF="id17.htm" TARGET="_top" TITLE="Commercial Loans"><I><B><IMG SRC="0db92280.jpg" border=0 width="146" height="40" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></B></I></A></div> <div> <A HREF="id55.htm" TARGET="_top" TITLE="VA"><I><B><IMG SRC="0e292290.jpg" border=0 width="146" height="41" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></B></I></A></div> <bR> </td> <td valign="top" height=315 width="100%" BGCOLOR="#FFFFFF" TEXT="#080000"> <div> <I><B>No Money Down Loans</B></I></div> <div> <IMG SRC="16cba7c0.jpg" border=0 width="186" height="124" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></div> <div> <I><B>To Qualify for a no money down loan a borrower typically must meet the following criteria:</B></I></div> <div> <I><B>Sufficient income to support the monthly mortgage payment </B></I></div> <div> <I><B>Enough cash to cover the down payment </B></I></div> <div> <I><B>Sufficient cash to cover normal closing costs and related expenses (explained below) </B></I></div> <div> <I><B>A good credit background that indicates your payment history or "willingness to pay" </B></I></div> <div> <I><B>Sufficient appraisal value, which shows the house is at least equal to the purchase price </B></I></div> <div> <I><B>In some instances, a cash reserve equivalent to two monthly mortgage payments </B></I></div> <bR> <div> <I><B>Closing costs, or settlement costs, are paid when the home buyer and the seller meet to exchange the necessary papers for the house to be legally transferred. On the average, closing costs run approximately 2% to 3% of the house price. This percentage may vary, depending on where you live. </B></I></div> <bR> <div> <I><B>Closing costs include the loan origination fee (if not already paid), points, prepaid homeowner's insurance, appraisal fee, lawyer's fee, recording fee, title search and insurance, tax adjustments, agent commissions, mortgage insurance (if you are putting less than 20% down) and other expenses. Your mortgage professional will give you a more exact estimate of your closing costs. </B></I></div> <bR> <div> <I><B>Points are finance charges that are calculated at closing. Each point equals 1% of the loan amount. For example, 2 points on a $100,000 loan equals $2,000. Companies may charge 1, 2 or 3 points in upfront costs in addition to the down payment. The more points you pay, the lower your interest rate will be. In some cases, you may be able to finance the points. </B></I></div> <bR> </td> </tr></table></body>