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High LTV LoansThis is a discussion on High LTV Loans within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Try VA loans, if you are a veteran or a service member. VA loans allow for 100% financing and no ... |
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| Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower. |
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Try VA loans, if you are a veteran or a service member. VA loans allow for 100% financing and no immediate closing costs.
FHA loans are also a great alternative - there are FHA home loans allowing for only 1.5% or 3% down payment. Also, try getting seller/home builder down payment & closing costs assistance. Must be available through both private and government-sponsored programs. If you are a minority member or exercise specific occupation (teacher, firefighter, police officer), there could be an appropriate high LTV home loan program available with your local housing authorities. Contacting an upfront mortgage broker (UMB) may prove beneficial as brokers have access to virtually hundreds of loan programs. Also, a UMB will pass the wholesale rates to you. Recommended helpful present and future homeowners links: Why: Refinance to a fixed rate loan while mortgage rates are still low. |
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| high, loans, ltv |
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