Last week after I posted on the topic of 100% financing available, I received this question. "Shirley, are you saying if we qualified for a 100% financing and we had an offer accepted on a property that the seller is willing to pay all the closing cost does this mean we buy the house with no out of pocket cost?"
I want always to be cautious when saying that is true. But, you would be surprised how often clients obtain their home without any money out of pocket. Remember you will be paying a monthly payment usually for 30 years and to say no cost could be misleading. Consult a mortgage professional loan officer to review your particular situation.
What is happening today in mortgage lending: Shirley Nault has been a mortgage professional for over 30 years. Visit her other mortgage websites.
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