100% Financing for No Money Down Purchases. 

LFS Home Loans offers a variety of programs that provide 100% or more for the purchase of your next home. There are a variety of ways to structure these deals that best meet your individual needs.

Generally, for purchases the loan amount is capped at 103% or 107%. The extra 3-7% can be used for attorney fees, lender fees, appraisal fees, and sometimes can be used for origination fees. Applicants often have to prove they have access to some liquid reserves, they just don't have to use them in the transaction.

If the loan is greater than 100%, seller concessions will probably not be allowed. Depending on the situation, it might make more sense to ask for seller concessions instead of getting a loan amount of greater than 100%.

Some lenders will raise your interest rate by .125 or more if you are getting over 100%.

Some lenders will make underwriting requirements a little more strict if you are getting a loan of over 100%.

Even with a loan amount of 103% or more, in some instances, there may be some costs and fees that the lender requires the borrower to pay. Your loan officer will work with you to try and reduce or eliminate as much of that out-of-pocket money as possible.

The team at LFS Home Loans wants to help you buy your next home. Let us customize a loan program that meets your individual financial needs and credit background. We are anxious to talk with you and earn your business. Apply now, contact us, or if you are in the Triangle area, come by for a visit.