100% Financing Experience

[Torianne Baley]

I have been speaking a lot with PMLs, specifically the one's that offer 100% financing LTV and LTC

My concern is that they keep asking me for a loan origination cost, which seems like a scam to me

For instance, one offered 100% financing and then once I completed the application, she asked for about $3500 for the loan origination fee. I told her to incorporate that into the loan repaid amount, and she immediately did and asked for my ID and bank statements

Now most lenders do 80% financing with a 20% down payment, which at that point, I understand why there's an upfront cost.

But if this is a 100% financing agreement, why are they asking me for anything upfront?

I heard the 100% financing community is littered with scammers and I was wondering if anyone has completed a deal successfully with a lender who offered 100% financing.