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No Money Down 100% Mortgage Home Loans in Wisconsin and Illinois

Effective immediately, and solely as consequence of recently issued announcements by Fannie Mae and Freddie Mac and
mortgage insurance companies, Ameristar Mortgage is implementing the following changes:

All conventional programs with LTV/TLTV/HTLV over 97% are discontinued. We will continue to offer some refinance and cash out refinance loans, FHA, VA and Rural Housing loans with 100% financing. Individual pages on our website been updated to reflect this change.


In a Changing Marketplace No Down Payment Financing is Still an Option

Even in the current, more restricted lending market, 100% financing no money down mortgage loans are still available for qualified borrowers. We offer a variety of 100% financing no down payment mortgage programs in Wisconsin and Illinois including major cities such as Chicago, Milwaukee and Madison.

Ameristar Mortgage offers the following no money down mortgage programs:
(No money down programs are available to first time home buyers!)

Programs listed below require at least a 3% down payment:

No money down / no down payment home loans in Illinois and Wisconsin can be used for a number of reasons such as making home improvements, purchasing a new home, refinancing your current home for a better rate or to refinance out of an ARM rate to a fixed rate. Programs also available in Chicago, Milwaukee and Madison.

All Wisconsin and Illinois Mortgage Programs
100% Financing (No Money Down) Programs
First Time Home Buyer Mortgage Programs
My Community Mortgage
Government Loans including FHA, VA and Rural Housing
Wisconsin Refinance Illinois Refinance Programs

Current Wisconsin and Illinois Mortgage Rates
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Latest no money down blog entries:

No Money Down Rural Mortgage Loans
September 26th, 2008

While most Illinois and Wisconsin mortgage loan products are being scaled back due to associated credit risk, the USDA Rural Housing loan is still allowing borrowers to finance 100% (no down payment) and then some to buy their homes.

The USDA Rural Housing loan works a lot like a VA loan with a couple of differences that are beneficial to buyers with little or no cash on hand. A VA loan has a 2.15% funding fee for the first use; USDA loans have a 2% funding fee for all uses (in both the VA and USDA loan, the funding fee can be added to the loan amount and financed into the loan). A VA loan has a 3.3% funding fee for all subsequent uses of a veteran’s eligibility; the USDA loan is always 2%. Because of the lower funding fee, a USDA loan will result in a lower mortgage amount and, thus, a lower monthly payment.

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No Money Down 100% Mortgage Loans from Ameristar Mortgage
June 16th, 2008

Illinois and Wisconsin 100% financing no money down mortgages have become a popular choice for financing a home. With recent changes in the mortgage industry the fico score requirement has increased and loan to values have decreased.

No Money Down Mortgage loans are a colossal risk for the lender, therefore, any borrower that applies for one of these programs must have extensive documentation to prove their eligibility for this mortgage program.

There are Wisconsin and Illinois mortgage programs offered with no money down but you are going to be limited to FHA mortgage, VA mortgage, Rural Housing mortgage loans and some refinance and cash out refinance mortgage programs.

Ameristar Mortgage is your local Wisconsin and Illinois no money down mortgage broker. No down payment loans are available in Illinois and Wisconsin including Chicago, Milwaukee and Madison. Contact us for questions or additional information

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No Money Down Mortgage from Ameristar Mortgage
May 11th, 2008

If you want a home mortgage loan, and want to see if it's possible to get a no money down mortgage loan, the professional and knowledgeable staff at Ameristar Mortgage can help guide you through the decision making process, and educate you about your options for a Chicago or any city in Illinois no money down mortgage loan.

An Illinois no money down mortgage loan allows consumers, who do not have 5%, 10% or 20% of a home's value in cash, to put down as their initial down payment, to still buy a home. In fact, many consumers who apply for a no money down mortgage actually do have the money for a down payment but they rather use that money to fix up, decorate or furnish their new home.

Whether you're a first time home buyer or have less than perfect credit you've come to the right place for your no money down mortgage loans.

Ameristar Mortgage is your Illinois and Wisconsin no money down mortgage broker. Contact us for questions or additional information

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No Money Down Mortgage from Ameristar Mortgage
April 17th, 2008

With all of the recent changes to 100% financing (no money down) mortgage loans almost all programs now require at least 3% down. Ameristar Mortgage still offers Wisconsin no money down and Illinois no money down mortgage programs to borrowers who do not have a down payment.

Ameristar Mortgage offers Rural Housing loans, FHA loans and VA mortgage loans up to 100% financing and with a rural housing loans you can finance up to 103% so that you may roll in closing costs and prepaid items such as your home owners insurance policy.

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No money down mortgage loans in Illinois, Wisconsin, Chicago, Milwaukee, Madison and Janesville. No down payment required.