THE NO INTEREST, NO PAYMENT PLAN

The buyer of a home makes no mortgage payments for up to six months after closing.

The sellers of a home contribute money into escrow to pay up to the first six mortgage payments. This money is deducted from what the sellers would have received at closing.

This plan is typically offered by sellers instead of offering to pay buyer closing costs.

Buyer Down Payment	Max Escrow Amount
25% or more of sales price	lesser of 9% of sales price or 6 months payment
Between 10% and 25% of sales price	lesser of 6% of sales price or 6 months payment
Between 5% and 10% of sales price	lesser of 3% of sales price or 6 months payment
Between 0% and 4.99% of sales price	not eligible for no payment plan

Other program limits:

Property must be a single family home, a duplex, or a warrantable condominium.

The borrower(s) must qualify for and be approved for the mortgage as if they were making all the mortgage payments.

The mortgage amount must be between $100,000 and $650,000.

The borrower(s) must select a 15 or 30 year fixed mortgage or a 3, 5, or 7 year LIBRO ARM. Interest only mortgages are not eligible.

Program also good for second homes. Investment property is not eligible.

For sale by owner transactions are not eligible.

The sales prive of the home may not exceed the listed price.

For more details on the "No Mortgage Payment" plan or to receive a custom analysis of your personal buying or selling situation, call us at 678-921-4524 or email today.

Fill out the form below and we will contact you or Email us directly if you have a specific question to ask.

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