Bad Credit Loans

Kelli Haynie
American Homefront Mortgage
3305 Northland Drive Suite 208
Austin, TX 78731
Phone: 512-423-4624
Fax: 512-407-8414
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Austin Texas 100% Financing Mortgage Loans

100% Mortgage Financing Loan
Competitive Rates
Down to a 570 Mid Score
80/20
Ag Exempt Property
Rural

Providing 100% mortgage financing of the purchase price of your home, this mortgage is specifically designed for homebuyers who have limited available cash, but excellent credit.

Many lenders are now offering 100% mortgage financing at near-market rates. This makes it possible for borrowers with no down payment, and less than perfect credit, to obtain a mortgage loan.

How 100% Mortgage Financing Works
Nowadays, 100% mortgage financing is available to the average borrower. Though your credit can't be horrible, it can be far from perfect. When obtaining 100% mortgage financing you have two basic options available to you:

• Private Mortgage Insurance.
  To protect themselves in the case of default, most lenders require borrowers participating in a 100% mortgage financing program to carry private mortgage insurance (PMI). This insurance varies in cost depending on the size of the mortgage loan, and must be carried until enough equity has built in the home or until you have proven that you can make payments in a timely manner.
• 80/20 Loans.
  If you want to avoid private mortgage insurance, but still qualify for 100% mortgage financing, an 80/20 loan is a good option. This mortgage loan allows you to take out two loans. The first covers 80% of the home's purchase price, and the second acts as a 20% down payment

• Stable Monthly Payments
  With a fixed rate mortgage, your monthly principal and interest payments stay the same throughout the life of your loan, so you're protected against any unexpected interest rate increases.
• Frees Up Cash
  Existing funds can be used for closing costs or other needs, rather than a home down payment.

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