Rates Home :: home buying in florida

Ultra 100 program helps potential homebuyers strapped for cash

No money in your pocket? Well, that doesn't mean you can't buy a home. Changes in loan guidelines make it possible for more people to buy homes today with no money down. Gavin Fenske, President of Great Financial Mortgage in Fullerton, California, recently outlined how perfect credit is no longer needed to qualify for the Ultra 100 home loan. He went on to say that consumers have really been taking advantage of this great loan program with some using the Ultra 100 to move into modest new homes and leave apartment living behind.

Fenske emphasized how the real estate market is still hot and a boom for buyers. He went on to say that now is the perfect time to take advantage of Great Financial Mortgage's Ultra 100 program because the national economy is strong and low interest rates afford buyers more purchasing power. The loan can be used to purchase almost any home or condominium ranging in price from $50,000 to approximately $333,700 - with no down payment.

"No, it's not the 1950's, but a loan opportunity for anyone who qualifies and a great way for renters to become first-time homeowners," said Fenske. "To be eligible for a loan, the buyer must be employed and have a decent credit rating with limited delinquencies. These two factors help determine the loan amount and make it possible for the financially strapped to purchase homes. The Ultra 100 takes scores as low as 580 and allows for debt ratios up to 65% in most cases. Furthermore, buyers can request that sellers pay closing costs."

Fenske also gave hope to individuals not qualifying for a Ultra 100 loan by saying they still have many other options available and no one should give up. Great Financial Mortgage has a number of creative, aggressive and versatile financing programs that open opportunities for anyone to own a home.

For more information on home buying in florida, or other financial matters visit the links below.

Related Finance, Equity and Loan Articles

• Refinance Florida Home
  Refinance Florida Home - have you thought of a refinance
• Home Equity Loans
  Home Equity Loans - Help Get Yourself Out of Debt or Improvement Your Home
• Florida Home Equity Loan
  Get Extra Cash with a Florida Home Equity Loan
• Home Equity Line of Credit
  How Reverse Equity Mortgages can Help Senior Homeowners Move Forward