Yes, it is possible to get 100% mortgage financing on a home!  And if the seller agrees to pay closing costs, you may be able to move in with 'no money down.' Several things factor in for you to qualify: credit and income, for instance.

You will probably get better terms and rates, however, by putting 5% down (some buyers withdraw these funds from a company 401-K account). 

100% financing can be a wonderful thing, letting you get into a home and enjoy the benefits of homeownership (tax savings, a yard, neighbors, building equity, etc.). But there can be a problem if your budget is tight, or if you don't have job security (a lot of us don't these days) and you need to quickly sell the house. There may not be enough equity to pay closing costs if you must sell in a hurry. So be careful and manage your money if you are lucky enough to get in a home with no money down.  Making that mortgage payment in a timely manner each month is your priority!  Vacations and a new SUV may have to wait.

With a 100% mortgage, you may be able to hold on to your cash, and deduct more mortgage interest off your income to help reduce taxes at the end of the year. Check with your accountant or financial advisor about your particular case to see what is best for you.

To see if you qualify for a 100% mortgage, you need to talk to a lender. Below are names of lenders who have given us good service in the past. Any of them would be glad to pre-qualify you, and then we can start looking for your new home!

Beverly Effinger
Countrywide Home Loans
3011 Armory Drive, Suite 120
Nashville, Tn. 37204
direct office: 615-782-3223
main office: 615-782-3200
assistant: 615-782-3227
cell: 615-403-8447
www.home.countrywide.com/beverlyeffinger

Martin Harris
Regions Mortgage
1604 21st Avenue
Nashville, TN 37212
(615) 748-2440 office
(615) 748-2441 fax
http://www.regionsmortgage.com/martinharris  

Manny Otero
Access National Mortgage
Cell: 615-415-8538
mailto:motero@accessnational.com

Rob Smith 
Suntrust Bank
5205 Maryland Way
Suite 200 Brentwood, TN 37027
Office: 615.507.7851
Cell: 615.714.5699
Fax: 615.376.8066
www.suntrustmortgage.com/rsmith 


HOMEOWNER'S INSURANCE - REQUIRED FOR CLOSING
Here is one helpful agent.

Jeremy Cyr
Liberty Mutual Group, Personal Sales Representative - LIFE-Auto-Home
615-371-6471 ext 55546