True Zero Down Home Buying.

If you're a hopeful, first-time home buyer who's strapped for cash to the extent you don't even have closing costs available, there is a solution to this major dilemna. At Mortgage Match, we work with several investors and lenders who offer zero down payment programs, and who also permit seller contributions toward closing costs... in some cases, up to 6% of the purchase price. There are also no reserve requirements which means you don't need to have a lot of cash in the bank prior to your loan's closing.

In order to take advantage of these types of programs, you need to locate a seller who's willing to pay closing costs. Many sellers marketing their homes themsleves... without realtors... will make a point of mentioning this in newspaper advertisements and sales flyers. Additionally, some homes listed in your local MLS will denote this feature so that realtors can conduct searches based on this sales point.

Credit requirements or standards for these loan programs are not particularly high or hard to satisfy. If you're able to document your income with paycheck stubs and/or W-2s, you only need a 580 midscore FICO. For borrowers who need to state their income, a 600 midscore FICO is all that's required.

Mortgage Match also features 103% mortgage programs for borrowers with slightly better credit. The additional 3% on top of the 100% purchase price can then cover all or most of the mortgage's closing costs. And, some of our 103% mortgage programs give borrowers more flexible monthly payment options. At any rate, both programs facilitate the purchase of homes when borrowers have only as little as $500 to $0 to work with for their home's purchase.

And, if credit issues are keeping you from buying a home enlisting either one of these loan programs, it's highly advisable that you take on some do-it-yourself (DIY) credit repair. Most people who use the PDQ Credit Repair Online Guide (click here), at only $9.95, see a 35-40 point increase in their FICO scores after only the first step. You can legally repair your credit. Raise your credit scores, and then get preapproved by clicking here.