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Is there 100% Mortgage Financing on an Olathe and Overland Park Home?

Is there 100% Mortgage Financing on an Olathe and Overland Park Home?

This is a real estate question I get asked quite a bit lately. The news media is reporting that there is no 100% mortgage financing. This information is not true. Depending on where you live, you have options.

In Olathe and Overland Park, Kansas I would recommend the Olympic Gold loan program. The Olympic Gold loan program is a conventional mortgage that will finance 103% of the purchase price up to $417,000.There are only a small handful of qualified lenders who can offer this loan program. There are no first time home buyer requirements for this loan and the income limits are 140% of the HUD AREA Income by County. The loan has a 30 and 40 year fixed rate option with or without a 10 year interest period option. There is an attached press release that goes into more details about the announcement of this mortgage loan program.

In Gardner and Spring Hill, KS. I would recommend the RECD loan. It is a great loan where a home buyer can finance their closing costs into the financing. There are a few requirements on this loan, but I have not found the requirements hard to meet, unless you are outside the geographic areas of the loan.

With both loans the interest rate is a low fixed rate and the loans consistently close. If you would like additional information on these loans, I would recommend calling Ronnie Yarbrough at Firstrust. His phone number is 913-747-3234.

If you have additional questions, please feel free to contact the Dowell Taggart Team Dowell Taggart Team.

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# re: Is there 100% Mortgage Financing on an Olathe and Overland Park Home?

Thursday, October 16, 2008 11:02 AM by Mike Ludwig

The only non grant programs that have 100% financing available in the Kansas City metro area is offered by the USDA. Only certain areas qualify....The program is not as rural as one would think.

# re: Is there 100% Mortgage Financing on an Olathe and Overland Park Home?

Thursday, October 16, 2008 2:43 PM by Ron Yarbrough

Absolutely there are ways to accomplish 100% financing.  We have a 103 Community Homebuyer program available as well.  

It is true there are no long any bad loans available.  We just have to verify that the person can afford the home and hopefully they have managed their finances pretty well in the last few years.

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