Looking for advice on 100% money lenders

[Sara Khiss]

Hi

I wish to be adviced a 100% funding LLC by someone who already benefited from it as most of the money lenders advertise it without respecting it.

I have been looking online and called many of them but there are always conditions. I sincerely hope to get started and at last be working on making the most of a propriety instead  of wasting time on fake advertisements so any advice is very very very  welcome. 

Thank you!!! 

Sara

[Norm Martinez]

Yes... that is typical bait and switch. Good that you didn't fall for it because unless you're a veteran or some specially preferred/protected group, don't expect to actually get 100% from a first position lender.  At one time, buyers could easily negotiate a price below the appraised value and contract for all their down payments, closing costs, etc. to get into homes with no money down. Since it was rolled into their loan, they still ended up paying for it themselves. There are still some gap funding programs available on residential purchases. I'm just now learning how they work, when they won't and what to do.

In any case, lenders wince and get nervous when buyers don't have at least some "skin in the game." So, to inspire confidence and assure them that you won't simply walk away if/when challenges come about, you should at least have a third of your down payment even if you use gap funding. Then it's not so hard to convince the lender you're financially able to fulfill your end of the bargain.

Hope that helps