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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