A 100% mortgage is a home loan with no deposit. This is one of the services that Brandon mortgage can provide to you. When you are considering buying your first home, this will be something for you to consider. Many people have a hard time saving up to pay for a deposit. It is certainly helpful to have another option available when you want to buy a home.
Sadly, in the process of saving for a deposit, property prices rise and so do the interest rates. This means that the buyer would have to raise more money. The cycle continues, making property ever less affordable. Options become limited.
Family equity loans are available for those who want to get money from their family or friends. Those who invest will legally have a stake in the property. This stake is approximately 10%. If the property is sold, the stakeholder will get their money back. There is no way for the property to be sold without this money being returned. A Brandon mortgage lender will help you find the best deal for your situation.
However, if you do not have the money for a deposit on a new home and you do not wish to get into a property ladder, there is hope. A home loan calculator will help you calculate the amount you will be able to borrow.
Some home loan consultants specialize in finding 100% mortgages for fist time homebuyers. Finding the best possible interest rates is their specialty. There has been much publicity lately as lending criteria had to be revised.
Finding the right loan is about finding a lender that offers a loan suited to your current financial situation. New players come onto the market all the time in order to win market share. Several Brandon mortgage companies will be able to advise on products that will suit your needs.
First Nationwide Lending is currently offering a variety of Brandon mortgage products for residents and individuals looking to relocate to the Brandon Florida area.