1st Time Buyer & Zero Down Payment Community Lending
We make your dreams come true with Zero Downpayment mortgages. With BMIC's 100% Community Lending mortgage loans you can purchase your home without worrying about the downpayment.
BUYER PROFILE
BUYER BENEFIT
You have the desire to buy a home, but you don't have money for the downpayment or closing costs.
BMIC's Community Lending programs offer financing up to 100% of the property purchase price with a maximum loan amount of $417,000.00. Our programs also allow the Seller to pay up to 6% of the purchase price towards your closing costs.
Your annual family gross income is between $46,300 and $94,500.00. You want to purchase, but you don't want to use all of your income for mortgage payments.
Our Community Lending programs are for owner occupied properties only. At closing, the proposed property must be the only one owned by you. Your annual income must be equal to or less than the median income for the county where the property is located. Our Community Lending programs offer fully amortizing loans, interest only loans and reduced costs for mortgage insurance premiums. The combination of these cost saving features allow for a lower mortgage payment than traditional financing.
Your credit is good, but not excellent, or you don't have a long history of managing credit.
Our Community Lending programs allow for a wide range of credit profiles and credit scores. Even if you don't have perfect credit, or if you have a limited credit history, you could be eligible for 100% financing.
