Zip Zero Nada 100 Percent Financing Program

Dated: 08/09/2017

Views: 804

Our new 100% Financing Program is an affordable housing option created to help home buyers purchase a home with little to no investment.

Eligible home buyers can receive down payment assistance, forgivable or soft-second mortgage, with rates as low as 0% to help qualify.
DescriptionDown payment assistance in the form of a soft second trust. Either a soft forgivable or amortized repayable based on income.
Minimum Borrower Investment0%
Down Payment Assistance3.5% rounded up to the nearest dollar.
Soft Secondary Financing available to borrowers with qualifying income < 115% of area median income-per lender contract.*
Fully-amortized second mortgages with a term of 10 or 30 years for borrowers with qualifying income < 115% of area median income.*
When loan includes a non-occupant co-borrower, qualifying income of only the occupying borrower(s) is used to determine program qualificaitons under AMI limits.* 
Cash Back to BorrowerBorrower may receive a refund of documented earnest money deposit and other documented third-party costs only
Borrower EligibilityOne of the borrowers must occupy the property as their primary residence. Non-occupant co-borrowers are permissable. All other FHA guidelines apply.
Loan Requirements
  • All FHA Guidelines Apply per FHA Handbook.

  • AUS approve or strict adherence to manual underwriting guidelines

  • Minimum Credit Score of 620

  • DTI per AUS findings or follow manual underwriting guidelines

  • Loan must comply with all other FHA underwriting criteria

Interest RatesFHA First Mortgage-Please refer to daily rate sheet
Soft Seconds do not accrue interest
Fully-amortized second mortgages with a term of 10 years (0% interest) or 30 years (5% interest).
Soft Second ForgivenessSoft, forgiveable second mortgages will be forgiven after 36 on-time payments of the underlying first mortgage.

For more information please contact Kiona Simon at 202-656-8012 or email me at

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Kiona Simon

Buying or selling a house can be an overwhelming and daunting process. Kiona Simon is ready, willing and able to help you buy, sell or invest in a property that best suits your needs. She is a licens....

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