Low Down Payment Home Loans
If you’re buying a home, there are many reasons to consider a low down payment home loan. For example, you’ve saved up for the down payment, but you didn’t realize that buying a home would include so many unforeseen expenses! Or you find you need a bit of extra cash to remodel your new home. Or you realize you need some savings in reserve for possible emergencies. Reducing the required home loan down payment can be the solution for all these situations. The available options vary according to your credit history, but at Countrywide Bank's Full Spectrum Lending Division, we offer an array of choices.
Down Payment Options
Depending on your credit history, you can negotiate a low down payment, or even no down payment! Countrywide's Full Spectrum Lending Division offers various down payment options to help stretch your dollar and get the most out flexibility out of your home loan.
Seller Contributions
Your seller may be able to help you reduce the money you pay out of pocket when buying a home, so be sure you know what to ask for when you negotiate! With Full Spectrum Lending, a seller may contribute as much as 6% of the purchase price of the home in one-time closing fees.
Gift Funds
Have you received a cash gift from a family member? You can use it towards your down payment when buying a home. Through one of our financing options, we will permit gifts of up to 20% of the home’s purchase price to take the place of your savings – and we loan you the rest!
Seller And Institutional Lender Second Mortgage Loans
Qualified borrowers can obtain a second mortgage loan in place of a cash down payment, and we’ll lend you up to 80% of the sales price of the home. What’s more, we can potentially allow you to finance 100% of your home’s appraised value, depending on your credit history and the type of second mortgage loan you qualify for.
Call our Loan Consultants at 1-800-909-8217 to learn more about the low down payment home loan options offered by Countrywide’s Full Spectrum Lending Division.
Equal Housing Lender. ©2008 Countrywide Bank, FSB, Full Spectrum Lending Division. Member FDIC. Trade/service marks are the property of Countrywide Financial Corporation, Countrywide Bank, FSB, or their respective affiliates and/or subsidiaries.