Ameristar Mortgage Blog

Illinois and Wisconsin no money down loans are risky because you are starting off with no equity in the property. They are a colossal risk for the lender, therefore, any one that applies for one of these programs must have extensive documentation to prove their eligibility for this mortgage program.

No Money down loans are not destroying the economy, instead irresponsible purchasers that are not able to afford what they are buying have raised the default rate and are hampering some real-estate markets in the United States (not the economy, and not everywhere).

The three primary no money down mortgage solutions that we facilitate are USDA rural housing loans, FHA loans, and VA loans.

FHA, VA and USDA are also the best form of financing for Wisconsin and Illinois no money down home mortgages.

Visit our no money down mortgage page for additional Wisconsin and Illinois no money down program requirements.

FHA lending is more forgiving when it comes to credit scores. FHA offers programs for borrowers with past credit issues to get a low rate loan. FHA allows a borrower to buy a home with a past bankruptcy, even to pay off a Bankruptcy Chapter 13.

VA mortgage loans are assumable or can be “taken over” by other eligible veterans. Wisconsin and Illinois VA mortgage loans are great as they offer 100% Financing but have a VA funding fee and are limited to those who have served the military or are currently in the military and could get a certificate of eligibility. The VA mortgage loans are one of the best and safest methods to use when buying a home. The VA mortgage loans extend to not only the Army, Navy, Air Force and Marines but also to Reservists and National Guardsmen.

Rural housing loans have income limits and city size limits. Wisconsin and Illinois USDA rural housing loan programs offer flexible, common sense underwriting guidelines, relaxed credit requirements, no PMI (private mortgage insurance) options, the ability to finance closing costs into the loan amount, lenient seller concessions, and rates that are comparable to, if not better than, conventional fixed rate mortgage programs.

Visit our no money down mortgage page for additional Wisconsin and Illinois no money down program requirements.

Dennis Hardy
Local: (608) 242-0826 x23
Toll Free: (877) 240-5840
dennis.hardy@ameristarmadison.com
www.AmeristarMadison.com

Visit my blog at http://www.ameristarmadison.com/blog/

Visit my rural housing blog post at http://www.ameristarmadison.com/blog/content/wisconsin-and-illinois-rural-housing-mortgage-loans/

Visit my VA loan blog post at http://www.ameristarmadison.com/blog/content/wisconsin-va-mortgage-loans-illinois-va-home-loans/

Visit my FHA mortgage blog post at http://www.ameristarmadison.com/blog/content/wisconsin-fha-loans-and-illinois-fha-mortgage-home-loans/

Visit my no money down blog post at http://www.ameristarmadison.com/blog/content/illinois-no-money-down-wisconsin-no-money-down-mortgage-loans/