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Washington Home Mortgage Tips: 100% Home Mortgage with No Money Down

Nationwide offers Washington consumers home loan expertise on buying a home with no down-payment. Shop and compare home loan products locally and get helpful advice for home financing in Washington.

September Northwest Multiple Listing Service (NWMLS) figures for the Pacific Northwest housing market indicate a 41% higher inventory, but also higher prices. Pending sales dropped 18.5% compared to the record-setting pace of 2005, with every county reporting fewer transactions. However, according to the September NWMLS report, six Washington counties reported single-digit price increases and nine still had double-digit gains.

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David Lereah, chief economist of the Realtors group, predicted prices would continue to decline until next year, but that the development is "healthy" because it will make homes more attractive to buyers and help to boost sales. Declining interest rates could also help spark increased Washington home buying activity for popular areas like Seattle, Tacoma, Spokane, Bellvue and other nice communities.

With declining median prices and lower interest rates, now may be the time for buying your first home or financing a second home in Washington before the market rebounds. With prices declining, you may even be able to purchase a nice home without having to resort to getting a jumbo loan (a non-conforming loan that's above the 2006 $417,000 Fannie Mae and Freddie Mac lending limits). Get a fixed interest rate loan rather than an adjustable rate loan or an interest-only loan, so you won't have to worry about interest rate hikes or rising monthly payments. If you're looking to buy a second home or investment property, take advantage of declining rates by getting a home equity loan to secure the funds for the down payment.

First-time buyers, do you have enough money for a down payment?
While housing prices have declined, the median price for a Washington home is still over $350,000 in many areas, and you'll need around $70,000 for the 20% down payment. Many first-time home buyers have enough money for the house payments, but not enough for a 20% down payment. You'll have to pay private mortgage insurance (PMI) until your house builds at least 20% equity if you buy a house with less than 20% down. And, PMI only benefits lenders by protecting them in case you default on the loan. There are no benefits for home buyers.

Nationwide Solutions

Nationwide Solutions, Your Zero Down Loan Experts, offers exclusive Purchase mortage, refinance and consolidation options to help maximize the equity in your home.

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Our HELOC product and Fixed Rate Home equity Loan are our two second mortgage products which offer an interest only payment with the HELOC or terms ranging from 10 to 30 years for the fixed loan.

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If you have been turned away for second mortgage because you don’t want to refinance your 1st mortgage; then let Nationwide Mortgages have the opportunity to get you approved for a second mortgage loan that gets you the cash you need at the best rate.

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Nationwide Home Purchase

Nationwide Solutions is your answer! Contact us and learn how to get your loan funded in 2 weeks!

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If you have been denied for refinance or 2nd mortgage because of your low credit scores, then give Nationwide Mortgages the chance to get you approved for a mortgage that helps you save money by consolidating debt and high rate loans.

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The way you can get around PMI is to get a 100% 1st mortgage (no money down loan). A no money down loan is also sometimes called an 80-20 home mortgage or "piggyback" loan because it typically entails a first mortgage for 80% of the purchase price and a piggyback second mortgage for the 20% balance. You'll then enjoy up to a 100% tax deduction for the interest you pay on your mortgage loans, and you won't have to pay PMI.

Nationwide Mortgages offers consumers living in Washington, home mortgage loan tips for refinance, home equity, second mortgages, home purchase and debt consolidation loans.

Shop & Compare home loan products by state, with helpful advice for homeowners in Washington.

Lower Your Monthly Payment and Get Cash Out!

Residents of Washington should consider refinancing your home and get cash for home improvements or consolidate your bills with extra cash out of the loan. You can significantly lower your current interest rate as well as lower your monthly mortgage payment so that you can save hundreds of dollars each month.

Rate & Term Refinance
Loan Refinancing with no cash out. Borrow up to 110% of the value of your home! Washington homeowners can lower their mortgage payments with reduced fixed rate loans.

Jumbo Home Loans
These loans do not conform to the guidelines established by Fannie Mae or Freddie Mac or exceeds the conventional loan limit is called a Jumbo loan.
These loan amounts can go from $417,000 up to 3,000,000.

FHA Streamline Refinance
These are loans insured by the FHA. They are generally a little easier to qualify for than conventional loans and may require less of a down payment. FHA Loans are great for first time home buyers with less than 3% down.

100% Home Purchase Loans
We offer 100% purchase loan programs for all types of borrowers. From the 1st time home buyer to the experienced pro, we have the perfect program to meet your unique borrowing needs.





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