100% "No Money Down" financing

I've done it. I have clients who have done it.... and so far, nobody has been financially ruined: 100% financing of a home in California. This simply means that you don't put any money down and you get to buy a home, get the pride of ownership, put a roof over your head and get a bit of a tax break with the interest write off. Buy something with some "upside potential" (in need of some basic work to gain sweat-equity), then refinance once you're in the home for a year or two. NO MONEY DOWN loans are NOT the last loans you'll ever have on the home. They're really "band-aid" or short term thinking loans until you can refi into a better rate. No Money Down loans come with a price: Higher Interest rates. Why? Because the banks are taking a RISK by lending to you since you haven't got access to the funds for a proper down payment. In the end Real Estate is still your best Investment Vehicle. I will not put you into a loan that you cannot logically and comfortably handle...and that's why my clients succeed in 100% No Money Down situations. Any Questions? I'm here to help. Pat Townsley, Mortgage Broker. Funding loans throughout California. www.PTRE.net 1-800-646-5527 toll free.