Anyone getting a 5% loan?

[Jeremy Altdorfer]

I'm looking for a lender that offers 5% and hopefully will do 100% financing. A lot to ask for but if you know anyone that's even close to these numbers please share. I can get 5% on owner financing no problem, but for all other deals it would be great to have something like this.

[Dave Meyer]

@Jeremy Altdorfer -- that doesn't exist right now. You need to consider how banks work. A bank, or credit union, or anyone issuing a mortgage, can earn 5% interest from treasury bonds, or a money market account. As a lender, that is a much safer business decision than offering you a 5% interest rate mortgage, with zero equity. That's a high risk loan, and they will charge you for that risk -- something in the 8-9% range currently. What incentive does a bank have to offer you the same interest rate they charge the US gov't (who, I'm sorry to say is more credit-worthy than you -- or any individual). 

Sure, a seller may offer you 5%, but if they're smart they will ask for a higher sales price in exchange for giving you an advantageous loan. 

My advice would be to look for deals that make sense with today's rates.