All across the country home prices have increase greatly over the past few years, and at the same time the average down payment has decreased. In many cases to zero or no money down. Connecticut is no exception to that rule. Why? There are many reasons. It is harder and harder as prices increase to save the 5-20% to put down that has always been the norm. And more and more buyers are understanding you never want to “invest” money in something that will appreciated the same with or without your cash invested. Basically, why put it in, even if you have it. You can put that money to work somewhere else that you house.

How Do Zero and Low Down Loans Works?

Fortunately, many mortgage companies recognize how difficult it is to save for a down payment. Thus, some lenders have created special programs that make it possible to buy a home with little out-of-pocket expense. Ordinarily, if you had a down payment for a home, you would obtain better rates. However, because of low mortgage rates available right now, you do not need a down payment to still get a good rate.

A zero down loan will be a loan for 100% of the purchase price of your new home. 80/20’s are just not competitive right now. There are several options for mortgage insurance, including lender paid mortgage insurance where the cost of the mortgage insurance is a part of the interest rate, no seperate charge. Talk with your loan consultant about options available for you, and what is the best least expensive option for you.

How to Find a No or Low Money Down Mortgage Loan?

If you are planning to buy a home in Connecticut, a loan consultant from HomePro Financial, LLC is ready to help you.  HomePro Financial, LLC is a leader in no and low money down financing. The qualification for a zero or lown down mortgage vary.  Working with a mortgage professional from HomePro Financial, LLC will help you to locate the best program for you and your unique situation. 

Apply for a Low or Zero Down Loan Today.