Best Loans

Document Sample
Best Loans Powered By Docstoc
					You Can Buy A Beautiful Home With No Down Payment – No Matter What Others

Many people never buy the home of their dreams because they don't think they have
enough money for the down payment. They've been told through the years that they
need 10 or 20 percent of the purchase price in order to buy a home. Well, this simply
isn't true.

Today there are more than 60 different types of home loans, some with extremely low
down payments and low monthly payments. There are several different types of 100
percent financing programs. In fact, recently several lenders have come out with 103
percent and 107 percent programs. We even work with one investor who will lend up to
$2,000,000 without any down payment! They require that you pledge stock as collateral.
See more on this program below.

Most "Institutional" Lenders use only three or four traditional types of home loans. Most
of these require higher down payments.

Special low down payment home loans are difficult to understand. On top of that, it's
hard to keep informed about the many rules and loans offered by all the different home
lenders. Large lenders have a hard time keeping their agents up to date about the
various low down payment home loans.

Many Lenders Consider Special Home Loans an Annoyance

Some companies feel that all the regulations and paperwork involved with low down
payment home loans are too much "fuss and muss." Besides, they do enough loans
without using these special programs, so why bother?

Another problem is that these special home loan programs come and go. They are
offered for a limited time only. When the funds run out, they're gone. By the time many
agents become aware of these great home loans, it's too late!

Money Saving Tip: There are many fine home loans to help you buy a house for little or
no down payment. At any given time there may be three or four special home programs
for which you qualify. These loans can save you thousands of dollars of interest and
give you a down payment of ZERO, or close to it.

"I Was Told that I Earn Too Much Money To Qualify For A Special Home Loan"
Many of these great home loans have income limits, but they're all different. For
example, the income limit for one of the zero down payment loans we offer is $54,650.

                             Best Loans 4 U - A Skyline Funding Company
                                    31416 Agoura Road Suite 180
                                     Westlake Village, CA 91361
                                       Phone (888) 459-6888
                                         Fax (818) 971-4371
In other words, if you earn less than $54,650, you may qualify for this zero down
payment home loan! Other lenders have no income limitations.

The "Problem" With Government Home Loans
The problem with these special home loans is that they come and go in a fairly short
"window period." For example, a $600 down payment home loan program may become
available in April and be out of funds by mid-June. To obtain one of these loans, you
have to know about them before the funds are gone, and act fast!

You Can Know About New Home Loan Programs Before Most Lenders
We make it our business to know about every special home loan program available.
Before a new home loan program begins, we learn everything we can about it. Then we
tell you. We work with virtually every major investor in the United States. We know the
lenders with the
best home loans.

If you want to buy a home, the first thing we need to do is find the best loan program to
fit your needs. We do this for you with no cost or obligation.

To qualify for any of the 100 percent or low down payment home loan programs, you
MUST have full-time employment and a record of paying your bills and rent (or house
payments) on time for the last 14 months. Perhaps you feel that you can't qualify to own
a home. Many people never thought they could own a home until they discovered Home
Loans, USA. These folks now live on quiet streets in beautiful homes with family rooms,
private back yards and garages. All because they called us or visited our Web site.

You too can own a home. Just go back to the loan center, pre-qualify and apply for a
loan anytime, 24/7. We will contact you as soon as we receive your information. Or you
can call us at 888-459-6888.

Option 1: FHA Loans
Although this isn't a "No Money Down" option, the FHA loan is one of the best options
for people who want to buy a home and don't have much money to put down. With an
FHA loan, you can put down as little as three percent. Plus, FHA loans are easier to
qualify for.

Now three percent may seem like a lot to come up with, but many people find that when
they put their minds to it, three percent is possible. While you can't "borrow" the three
percent, you can get a "gift" from a family member, borrow from your 401k or sell some
stuff lying around. At the end of this report, we've included a special section with great

                             Best Loans 4 U - A Skyline Funding Company
                                    31416 Agoura Road Suite 180
                                     Westlake Village, CA 91361
                                       Phone (888) 459-6888
                                         Fax (818) 971-4371
ideas for raising this small amount required for an FHA loan.

FHA loans do have requirements and restrictions. Not all town homes and condos
qualify, and there is a maximum loan amount you can get. But if you've been dreaming
of a new home and think you might be able to "scrounge up" three percent, this is a
great way to go.

Option 2: 80 percent 1st Mortgage / 20 percent 2nd Mortgage
This product is a result of two loans. The first loan is 80 percent of the purchase price
and the second is 20 percent for a combination of 100 percent. Depending on your
income, credit and employment, this may be your best bet. Lenders who offer this
option tend to be a little more lenient. The rate on the first loan is usually fixed for two to
three years and the second usually offers a 15-year term that is amortized over 30
years. If you've had some credit issues in the past that have affected your credit score
or if you can't document your income, (you are self-employed or paid commission, yet
have good credit) this may be the program for you. As you may have guessed, these
loans have higher interest rates, typically one to one and a half percent higher than the
prevailing 30-year fixed rates. Of course the advantage is you get to keep your money
working for you and not sitting in real estate.

Option 3: 100: One Loan 100 percent – 107 percent of the Home's Value
There are several Investors we work with who offer these programs. Some have income
limits while others do not. In fact, these lenders will allow the seller to pay up to seven
percent of the closing costs, which actually results in a loan that is 107 percent of the
home's selling price. This is a great option when you don't have enough money for
closing costs or want to keep your money in your business or other income-generating
investments. One investor requires no income qualifying, but does require a high credit
score. Rates on these programs are not as high as the 80/20 programs and offer the
ease of a single payment.

Option 4: 100 percent to Two Million + Stock as Collateral
This is an exciting option we are seeing more of with the advent of wealth in the stock
market. You take the "typical" down payment of 20 to 30 percent and add a 30 percent
margin to determine the approximate amount of stock required. This will vary depending
on your specific situation. Then, you move your stock to this investor's management,
while still being able to trade it as you normally would. These rates are competitive
compared to both of the previous programs and offer interest only payments. One other
chief benefit is that you are able to deduct a higher amount of interest since there is no

                              Best Loans 4 U - A Skyline Funding Company
                                     31416 Agoura Road Suite 180
                                      Westlake Village, CA 91361
                                        Phone (888) 459-6888
                                          Fax (818) 971-4371
down payment. The only caveat is that you have to be comfortable with a higher
monthly payment.

Option 5: Owner Financing
Owner financing means exactly that: the owner (or seller) finances a portion of your
home purchase. For example, you might borrow 80 percent of the value of a home from
a lending institution, and "borrow" the other 20 percent from the owner. In this situation,
the owner "carries back" a second mortgage.

Owner financing can be advantageous, especially to investors who buy up properties
and then rent them out. For the average homebuyer, however, owner financing is
difficult to find and requires some tricky negotiating. Even after successfully negotiating
a deal, it requires detailed work by qualified attorneys to protect the interests of all
parties involved.

While you shouldn't rule out owner financing, keep in mind that by looking for someone
who is willing to help finance your purchase, you severely limit your choices. There are
a lot of houses for sale today, but not many where owner financing is an option.

Option 6: Lease-To-Own
With a lease-to-own, you essentially lease a home, but make larger payments in order
to begin accumulating a down payment. For example, if a house normally leases for
$800, you might lease it for $1,000 a month, with $200 going into a special account. At
the end of a specified period, you buy the home using the money in that special account
as your down payment. However, if you decide somewhere along the line not to
purchase the home, all of the money in the special account then goes to the seller.

Think of this option as renting with a forced savings account. If you can find someone
willing to do this, it's not a bad option. However, most people who are selling their
homes need their money out of it in order to buy their next home, so finding someone
willing to lease to you may prove difficult.

Where to Begin

Now that you have six options for buying a home for little or no money down, where is
the best place to begin?

The first step is getting pre-qualified. And the best way to get pre-qualified is to find
lender who is dedicated to helping people like you get into the home of your dreams.

                              Best Loans 4 U - A Skyline Funding Company
                                     31416 Agoura Road Suite 180
                                      Westlake Village, CA 91361
                                        Phone (888) 459-6888
                                          Fax (818) 971-4371
However, Home Loans, USA will do more than get you financed!

Financing is only the first step in the home buying process. We are dedicated to helping
you through the entire process, delivering world class service all along the way. We can
help you find the right home, negotiate the right terms and make sure you get to
the closing table. It's all part of our Preferred Buyers Program, which you can join for

If you'd like to know more about your financing options and would like to be part of our
Preferred Buyers Program, please go back to the loan center and fill out the quick app,
or the complete loan application. You can also pre-qualify yourself as well. If you like
you can call us at 888-459-6888.

Simple Ideas for Raising Money for A Down Payment

1. Have a garage sale. You'll be surprised how much money you can raise this way,
especially if you're willing to give up some of the junk you've been hoarding for years!

2. Raid your savings. Even if you've been trying to keep a little stashed away, this is
important! If your kids have a savings account, ask if you can borrow from theirs as well!

3. Borrow from your retirement fund. Many retirement funds (401k, IRA, etc.) have
provisions for you to borrow from them for important reasons. Buying a home counts as
an important reason! Check with your plan administrator or your financial advisor about
this option! The nice part about this is that as you repay your loan, you pay the interest
to yourself!

4. Ask your family. This is probably the hardest thing for some people to do, but you
might be surprised at how willing a family member would be to help you buy a house,
even if they've said "no" to you before when you tried to borrow for other things! If you
do this, you'll need a form for your banker stating this is a gift and not a loan (Yes, you
can still repay your family member. It just can't be a formal loan).

5. Sell something. If you look around your house, you might find items that have good
value, but you haven't used in a long time. An old coin collection, an old musical
instrument that no one plays anymore, an extra freezer you don't need or a second (or
third) car you could do without. Often, the cash from selling these items can
add up quickly!

6. Win the lottery. Hey, somebody's gonna win! Might as well be you!

                              Best Loans 4 U - A Skyline Funding Company
                                     31416 Agoura Road Suite 180
                                      Westlake Village, CA 91361
                                        Phone (888) 459-6888
                                          Fax (818) 971-4371