100% Mortgage Financing Program

A Program That Requires No Down Payment

First Source’s 100% Mortgage Financing Program is more like a bridge loan. If you’re purchasing a new house before your current house has sold, this could be a good financing choice for you. 100% financing allows for the full amount of the new purchase to be financed, then once you sell your current house, you can pay this down. There are very specific requirements/restrictions for this program.

Requirements For 100% Financing Program Include:

• Loan Purpose: Purchase only

• Loan to Value: 100% Financing

• Eligible Product: 10/1 ARM 

• Minimum Credit Score: 700

• Minimum Borrower Contribution: 1% toward closing costs and prepaids (can be gifted)

• Gift Funds: Allowed

• Seller Concession: up to 3%

• Occupancy: Owner-occupied only (no investments or second homes)

• Reserves Required: 2 months principal, interest, taxes, and homeowner’s insurance

• Auto Payment: Required

• Maximum Loan Amount: $726,200 (as of January 1, 2023)

Get Started

Every situation and home is unique. We look forward to working on your specific needs for affordable home ownership.

Apply Now

Mortgages can be complex. We make them easy. If you’re not ready to apply for our 100% Mortgage Financing Program just yet, you might want to have a call with one of our Mortgage Team representatives first. We’ll walk through the process, ask you some clarifying questions, and answer your questions.

Request a Call Back

Interested In Learning More?

To see what other types of mortgages we have available, along with our specialized mortgage programs, visit our Mortgage overview page.