Zero Down Payment? But How?

Tons of student debt? First time homebuyer? No problem! The non-profit organization Wealth Building Home Loan (WBHL) is offering a revolutionary 15-year mortgage option that allows buyers to have zero down payment. The loan is intended to appeal to first time buyers who may have lower credit scores or be burdened by student debt. While the credit score requirement is generous, it takes monthly income heavily into account.

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This 15-year option results in higher monthly payments than it’s more popular 30-year counterpart, although many borrowers appreciate the lower interest rates and higher amounts of equity in the first few years.

Bank of America and Citigroup will be funding the loans. If you’re interested in more information, give us a call! We’d be happy to connect you to a qualified lender who can provide you with individualized assistance.