Movement Mortgage premieres new zero-down payment mortgage program

Want to buy your first home but are having a hard time coming up with that necessary down payment?

Movement Mortgage has just announced its new down payment assistance program for first-time homebuyers that allows borrowers to put nothing down on a home. 

Movement Mortgage, a top 10 retail home lender, has just introduced a financing option that provides eligible first-time buyers with a non-repayable grant of up to 3 percent. Not only that, but the program also allows for sellers to further assist the buyer by paying up to 4% of closing costs and pre paids on the home. 

For example, say you were to buy a $200,000 home. The necessary down payment costs would be about $6,000 that Movement Mortgage would cover from their own funds, while you would not have to pay anything out of pocket. This down payment grant never has to be paid back by the buyer, and is combined with a 97% loan-to-value ratio conventional mortgage (meaning zero from the buyers and 3 percent from Movement Mortgage). 

So if you were looking to buy your first home, now is the perfect time to pull the trigger. In order to qualify for this particular program, you must be a first-time homebuyer with an annual household income of less than $61,800 and you must have at least a 640 credit score.

For more information on this program or any other mortgage question, contact Senior Mortgage Loan Officer Christina Lane at 423-618-4867.