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Our Niche Products
No Closing Costs Loans |
Low Doc Loans |
Low Down Payment Loans
Low Down Payment Loans
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Wait No More...Get Into Your Dream Home Today
Saving to purchase your home can be difficult and take time, especially with today’s ever-increasing home prices. With a variety of low-down payment options from Dynamic Capital Mortgage, you do not have to wait any longer. Low-down payment programs from DCM are great choices for first-time homebuyers who have limited cash on hand and also may want to preserve some of it to renovate and furnish their new homes. These programs are also well suited for multiple-property owners who do not wish to invest significant capital in their properties.
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Choose Dynamic Capital
At Dynamic Capital Mortgage, we deliver the loan programs, rates and expertise to get the most out of your money. So, you get the home that you want today. You also get our commitment to extraordinary service throughout the entire process. Because your mortgage is among the largest personal financial decisions that you’ll make, it’s the kind of service that you deserve. That’s what makes Dynamic Capital your preferred mortgage lender.
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Up to 100% Financing
Dynamic Capital features home loans with down payments as low as $0. That means up to 100% financing — or a loan-to-value (LTV) ratio of up to 100%.
For homebuyers with excellent credit, low-down payment programs are available without the additional cost of private mortgage insurance (PMI), which can mean thousands of dollars in savings to you. These programs include two parts: a first mortgage at 80% of your home value and a second mortgage for the balance,
of up to 20%. By splitting your financing into two, you
pay less each month because you do not need PMI. You get the added benefit of interest from both loans typically being tax-deductible, while PMI is not.
DCM also offers up to 100% financing for homebuyers whose credit ratings are good but not quite excellent. These single-loan alternatives typically require PMI.
Select low-down payment programs offered by DCM also include even more ways to help you qualify for more. These “community lending” programs, based on zip codes, allow you to use more of your gross monthly income toward housing expenses.
The Specifics
- without PMI for excellent credit
- with PMI for good credit
- “community lending” programs
- ARMs and fixed-rate loans
- loan amounts greater than $100,000
You Should Know
Your credit score has a significant impact on the interest rates and loan programs that you qualify for. Also called a FICO score, your credit score ranges from 450 to 850 at any point in time and is intended to reflect your likelihood of repaying debts in a timely manner. Calculated by the industry’s three main credit rating agencies, your score takes into account your history of payment timeliness and the amount of debt you have on credit cards, for example. While lenders’ definitions vary, “excellent credit” usually falls above 720, while “good credit” is
typically above 660.
Private Mortgage Insurance (PMI) is typically required for borrowers whose loans exceed 80% of the property value. This insurance is intended to protect lenders against loss if you should default on your loan. It usually costs around 1% of the loan amount and is billed with your monthly mortgage payment.
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