FHA, VA, Refinance, No Money Down in Vernon Hills, Mundelein, Carol Stream, Downers Grove, Hinsdale

PRLog (Press Release) - Dec 25, 2008 -
FHA, VA, Refinance, First Time Home Buyer, No Money Down Mortgage in Vernon Hills, Libertyville, Mundelein, Cary, Carol Stream, Downers Grove

The three primary Illinois no money down mortgage solutions that we facilitate are USDA rural housing loans, FHA loans, and VA loans. A no money down mortgage can help you keep from depleting your savings with a down payment, but it will probably result in a slightly higher interest rate. These loan programs are available to you even if you are a first time home buyer.  An Illinois no money down mortgage loan is an excellent choice for a home buyer, who may not have enough money for the standard 20% down payment.

USDA loans can go up to 102%, VA loans to 100%, while FHA loans may require a 3% down payment. Our No Money Down Mortgage loans are available for borrowers to purchase a one through four family home or condominium. Not only does HUD want to offer Zero Down loans, but they want to allow the borrower to roll some of the closing costs into the loan up to a maximum loan value of 103% (rural housing loans only) of the selling price.

Illinois no money down program highlights:

• 100% financing; no money down
• No private mortgage insurance (Rural Housing and VA Loans)
• 30 year fixed interest rate
• Flexible credit guidelines
• Flexible qualifying guidelines
• No maximum purchase price (Rural Housing)

Visit  us online at http://www.madisonmortgageguys.com for additional Illinois no money down program requirements.

Toll Free: (877) 240-5810
info@madisonmortgageguys.com
http://www.madisonmortgageguys.com

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FHA, VA, Refinance, No Money Down Mortgage in Vernon Hills, Libertyville, Mundelein, Cary, Carol Stream, Downers Grove