Buying a Home with No Money Down

If you are on the market for a new home, you may want to look into buying a home with no money down, otherwise known as 100% financing. The benefit of buying a home with no money down is that you will be able to use the money you normally would use for a down payment for other things, such as closing costs, or putting it toward new furniture. One of the requirements for buying a home with no money down is having excellent credit, or, at the very least, next to excellent credit. Keep in mind, when borrowing up to 100% of the value of a home, the lender may charge you a bit more by bumping up the interest rate. The lender does this because when they approve a loan for 100% as opposed to 95%, they are taking on more of a risk. Therefore, they slightly raise the rate. Re View the rest of this article