100% Financing

Unlock Your Dream of Luxury Living – Sooner Than You Think

Luxury living is within reach, even without a down payment. A variety of 100% financing programs, including government-backed options like USDA and VA loans, are available to help both first-time and experienced buyers achieve their luxury homeownership goals.

Key Advantages:

No Down Payment: Say goodbye to the need for a large upfront payment.
Government-Backed Security: Enjoy the peace of mind and potential for lower interest rates that come with government-sponsored loans.
Eligibility: Explore the specific requirements to see if these programs are a good fit for you.

While a down payment isn’t required, remember that closing costs still apply. A knowledgeable mortgage professional can guide you through the various programs and help you find the perfect path to your dream luxury property.

Start your journey by browsing a selection of properties that may qualify for 100% financing, conveniently located towards the end of this page.

We have partnerships with mortgage brokers and lenders to simplify your financing process. Also, consider exploring our Principal Paydown Program – it’s designed to accelerate your mortgage payoff timeline.

Money for Closing Costs

All of the mentioned options – VA loans, USDA loans, and FHA loans – allow realtors to use their commissions, gift of equity, or gift of funds to help buyers pay closing costs.

VA Loans: Allow sellers or real estate agents to contribute up to 4% of the loan amount towards the buyer’s closing costs.
USDA Loans: Allow sellers to pay closing costs, and agents can also contribute through gift funds.
FHA Loans: Permit sellers to contribute up to 6% of the sales price towards the buyer’s closing costs. Agents can also contribute using gift funds.

Important Considerations:

Gift of Equity: A gift of equity involves the seller reducing the home’s sale price by the amount of the gift, effectively lowering the buyer’s closing costs.
Gift Funds: Gift funds must come from an acceptable source, such as a family member, and proper documentation is required.
Lender Approval: Any contributions towards closing costs typically need approval from the lender.

It’s crucial to consult with a knowledgeable real estate agent and mortgage lender to determine the best approach for utilizing commissions, gift of equity, or gift funds to cover closing costs, ensuring compliance with all relevant regulations and guidelines.

Credit Score Requirements

The credit score and debt-to-income (DTI) ratio requirements for 100% financing vary depending on the specific loan program:

USDA Loans:

Credit Score: Typically a minimum credit score of 640 is required, but some lenders may accept lower scores with compensating factors.
DTI: The maximum DTI ratio is usually 41%, but it can be higher in some cases with compensating factors.

VA Loans:

Credit Score: There is no minimum credit score requirement set by the VA, but lenders typically prefer a score of at least 620.
DTI: The VA doesn’t set a specific DTI limit, but lenders typically look for a DTI of 41% or lower. However, higher DTIs may be allowed with strong compensating factors.

Other 100% Financing Options (like physician loans):

Credit Score: Usually a minimum credit score of 680 or higher is required.
DTI: The DTI requirements vary by lender, but a DTI of 45% or lower is generally preferred.

Remember: These are just general guidelines, and the specific requirements can vary depending on the lender and your individual financial situation. It’s always best to consult with a mortgage lender to determine your eligibility for 100% financing and the specific requirements for the loan program you’re interested in.

FHA Loan Requirements

Important FHA Guidelines for Borrowers

The FHA, or Federal Housing Administration, provides mortgage insurance on loans made by FHA-approved lenders. FHA insures these loans on single family and multi-family homes in the United States and its territories. It is the largest insurer of residential mortgages in the world, insuring tens of millions of properties since 1934 when it was created.

FICO® score at least 580 = 3.5% down payment.
FICO® score between 500 and 579 = 10% down payment.
MIP (Mortgage Insurance Premium ) is required.
Debt-to-Income Ratio < 43%.
The home must be the borrower’s primary residence.
Borrower must have steady income and proof of employment.

Conforming Loan Limits

This page contains the Conforming, FHA, VA, and HECM Loan Limits for each housing type in Broward County, Miami-Dade County, and Palm Beach County, FL.

Loan Limit Tables Broward County, Miami-Dade County, and Palm Beach County, FL.

Loan Limits are the maximum amount of money allowed to be lent for a particular kind of loan. Different types of loans have different limits. Below are the 2024 loan limits for Broward County, Miami-Dade County, and Palm Beach County, FL.

Conforming loan limits apply to the loan amount, not the purchase price. This means that if you are buying a house with a purchase price above the conforming loan limit of $766,550, you can still get a conforming loan if your down payment is large enough to bring the loan amount below the limit.

For example, if you want to buy a house for $800,000, you would need to make a down payment of at least $33,450 to bring the loan amount down to $766,550, which would make you eligible for a conforming loan.

However, if your loan amount exceeds the conforming loan limit of $766,550, you would need to get a jumbo loan, which typically comes with higher interest rates.

Conforming loans must meet the guidelines set by Fannie Mae and Freddie Mac. If a mortgage exceeds the conforming loan limits then it is considered a jumbo loan.

Remember that conforming loan limits may vary depending on the location of the property, and there are higher limits for certain high-cost areas. You can check the conforming loan limit for your specific location on the Federal Housing Finance Agency (FHFA) website.

Limited time offer: Receive a bonus of 10% of the property's purchase price in LPS Tokens.

Properties with 100% Financing Possible

Conforming loan limit: $766,550
Home size: Single-Family

Contact us for the following property types.

Conforming loan limit: $981,500
Home size: 2 Duplex (Residential Income)

Conforming loan limit: $1,186,350
Home size: 3 Triplex

Conforming loan limit: $1,474,400
Home size: 4 Quadplex

FHA Loan Limits
FHA Loans are home mortgages insured by the Federal Housing Administration. FHA Loans let you get a home loan with a lower down-payment and relaxed credit score requirements.

Conforming loan limit: $621,000
Home size:1 Single-Family