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FHA, USDA,VA 100% Mortgages

First Time Homebuyers FHA Zero Down home Loans

Refinance with Cash Out

Credit scores as low as 500 even no credit scores!! That means...

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Missouri FHA mortgage, Ballwin FHA mortgage, Blue Springs FHA mortgage, Cape Girardeau FHA mortgage, Chesterfield FHA mortgage, Columbia FHA mortgage, Florissant FHA mortgage, Gladstone FHA mortgage, Hazelwood FHA mortgage, Independence FHA mortgage, Jefferson City FHA mortgage, Joplin FHA mortgage, Kansas City FHA mortgage, Kirkwood FHA mortgage, Lee's Summit FHA mortgage, Liberty FHA mortgage, Maryland Heights FHA mortgage, Raytown FHA mortgage, St. Charles FHA mortgage, St. Joseph FHA mortgage, St. Louis FHA mortgage, St. Peters FHA mortgage, Springfield FHA mortgage, University City FHA mortgage, Wildwood FHA mortgage,Zero-down-FHA-mortgage-Home-loan-0-0%-100%-no-down-payment-refinance-cash-out-streamline-lower-rate-lower-monthly-payments.

Missouri, Ballwin, Blue Springs, Cape Girardeau, Chesterfield, Columbia, Florissant, Gladstone, Hazelwood, Independence, Jefferson City, Joplin, Kansas City, Kirkwood, Lee's Summit, Liberty, Maryland Heights, Raytown, St. Charles, St. Joseph, St. Louis, St. Peters, Springfield, University City, Wildwood,

Cape Girardeau,Columbia,Independence, Jefferson City, Joplin, Kansas City,St. Charles, St. Joseph, St. Louis, St. Peters, Springfield,

Missouri FHA Home Loan Limits

ADAIR	KIRKSVILLE, MO (MICRO)	$172,632
ANDREW	ST. JOSEPH, MO-KS (MSA)	$172,632
ATCHISON	NON-METRO	$172,632
AUDRAIN	MEXICO, MO (MICRO)	$172,632
BARRY	NON-METRO	$172,632
BARTON	NON-METRO	$172,632
BATES	KANSAS CITY, MO-KS (MSA)	$201,638
BENTON	NON-METRO	$172,632
BOLLINGER	CAPE GIRARDEAU-JACKSON, MO-IL (MICRO)	$172,632
BOONE	COLUMBIA, MO (MSA)	$172,632
BUCHANAN	ST. JOSEPH, MO-KS (MSA)	$172,632
BUTLER	POPLAR BLUFF, MO (MICRO)	$172,632
CALDWELL	KANSAS CITY, MO-KS (MSA)	$201,638
CALLAWAY	JEFFERSON CITY, MO (MSA)	$172,632
CAMDEN	NON-METRO	$172,632
CAPE GIRARDEAU	CAPE GIRARDEAU-JACKSON, MO-IL (MICRO)	$172,632
CARROLL	NON-METRO	$172,632
CARTER	NON-METRO	$172,632
CASS	KANSAS CITY, MO-KS (MSA)	$201,638
CEDAR	NON-METRO	$172,632
CHARITON	NON-METRO	$172,632
CHRISTIAN	SPRINGFIELD, MO (MSA)	$172,632
CLARK	KEOKUK-FORT MADISON, IA-MO (MICRO)	$172,632
CLAY	KANSAS CITY, MO-KS (MSA)	$201,638
CLINTON	KANSAS CITY, MO-KS (MSA)	$201,638
COLE	JEFFERSON CITY, MO (MSA)	$172,632
COOPER	NON-METRO	$172,632
CRAWFORD	ST. LOUIS, MO-IL (MSA)	$213,750
DADE	NON-METRO	$172,632
DALLAS	SPRINGFIELD, MO (MSA)	$172,632
DAVIESS	NON-METRO	$172,632
DE KALB	ST. JOSEPH, MO-KS (MSA)	$172,632
DENT	NON-METRO	$172,632
DOUGLAS	NON-METRO	$172,632
DUNKLIN	KENNETT, MO (MICRO)	$172,632
FRANKLIN	ST. LOUIS, MO-IL (MSA)	$213,750
GASCONADE	NON-METRO	$172,632
GENTRY	NON-METRO	$172,632
GREENE	SPRINGFIELD, MO (MSA)	$172,632
GRUNDY	NON-METRO	$172,632
HARRISON	NON-METRO	$172,632
HENRY	NON-METRO	$172,632
HICKORY	NON-METRO	$172,632
HOLT	NON-METRO	$172,632
HOWARD	COLUMBIA, MO (MSA)	$172,632
HOWELL	WEST PLAINS, MO (MICRO)	$172,632
IRON	NON-METRO	$172,632
JACKSON	KANSAS CITY, MO-KS (MSA)	$201,638
JASPER	JOPLIN, MO (MSA)	$172,632
JEFFERSON	ST. LOUIS, MO-IL (MSA)	$213,750
JOHNSON	WARRENSBURG, MO (MICRO)	$172,632
KNOX	NON-METRO	$172,632
LACLEDE	LEBANON, MO (MICRO)	$172,632
LAFAYETTE	KANSAS CITY, MO-KS (MSA)	$201,638
LAWRENCE	NON-METRO	$172,632
LEWIS	QUINCY, IL-MO (MICRO)	$172,632
LINCOLN	ST. LOUIS, MO-IL (MSA)	$213,750
LINN	NON-METRO	$172,632
LIVINGSTON	NON-METRO	$172,632
MACON	NON-METRO	$172,632
MADISON	NON-METRO	$172,632
MARIES	NON-METRO	$172,632
MARION	HANNIBAL, MO (MICRO)	$172,632
MCDONALD	FAYETTEVILLE-SPRINGDALE-ROGERS, AR-MO (MSA)	$172,632
MERCER	NON-METRO	$172,632
MILLER	NON-METRO	$172,632
MISSISSIPPI	NON-METRO	$172,632
MONITEAU	JEFFERSON CITY, MO (MSA)	$172,632
MONROE	NON-METRO	$172,632
MONTGOMERY	NON-METRO	$172,632
MORGAN	NON-METRO	$172,632
NEW MADRID	NON-METRO	$172,632
NEWTON	JOPLIN, MO (MSA)	$172,632
NODAWAY	MARYVILLE, MO (MICRO)	$172,632
OREGON	NON-METRO	$172,632
OSAGE	JEFFERSON CITY, MO (MSA)	$172,632
OZARK	NON-METRO	$172,632
PEMISCOT	NON-METRO	$172,632
PERRY	NON-METRO	$172,632
PETTIS	SEDALIA, MO (MICRO)	$172,632
PHELPS	ROLLA, MO (MICRO)	$172,632
PIKE	NON-METRO	$172,632
PLATTE	KANSAS CITY, MO-KS (MSA)	$201,638
POLK	SPRINGFIELD, MO (MSA)	$172,632
PULASKI	FORT LEONARD WOOD, MO (MICRO)	$172,632
PUTNAM	NON-METRO	$172,632
RALLS	HANNIBAL, MO (MICRO)	$172,632
RANDOLPH	MOBERLY, MO (MICRO)	$172,632
RAY	KANSAS CITY, MO-KS (MSA)	$201,638
REYNOLDS	NON-METRO	$172,632
RIPLEY	NON-METRO	$172,632
SALINE	MARSHALL, MO (MICRO)	$172,632
SCHUYLER	KIRKSVILLE, MO (MICRO)	$172,632
SCOTLAND	NON-METRO	$172,632
SCOTT	SIKESTON, MO (MICRO)	$172,632
SHANNON	NON-METRO	$172,632
SHELBY	NON-METRO	$172,632
ST. CHARLES	ST. LOUIS, MO-IL (MSA)	$213,750
ST. CLAIR	NON-METRO	$172,632
ST. FRANCOIS	FARMINGTON, MO (MICRO)	$172,632
ST. LOUIS	ST. LOUIS, MO-IL (MSA)	$213,750
ST. LOUIS CITY	ST. LOUIS, MO-IL (MSA)	$213,750
STE. GENEVIEVE	NON-METRO	$172,632
STODDARD	NON-METRO	$172,632
STONE	BRANSON, MO (MICRO)	$172,632
SULLIVAN	NON-METRO	$172,632
TANEY	BRANSON, MO (MICRO)	$172,632
TEXAS	NON-METRO	$172,632
VERNON	NON-METRO	$172,632
WARREN	ST. LOUIS, MO-IL (MSA)	$213,750
WASHINGTON	ST. LOUIS, MO-IL (MSA)	$213,750
WAYNE	NON-METRO	$172,632
WEBSTER	SPRINGFIELD, MO (MSA)	$172,632
WORTH	NON-METRO	$172,632
WRIGHT	NON-METRO	$172,632

FHA-HOME-LOAN-PURCHASE-MORTGAGE-REFINANCE-ZERO-DOWN-100%-95%-CASH-OUT-REFINANCE

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FHA ZERO Down Mortgage

Missouri FHA zero down mortgage, Ballwin FHA zero down mortgage, Blue Springs FHA zero down mortgage, Cape Girardeau FHA zero down mortgage, Chesterfield FHA zero down mortgage, Columbia FHA zero down mortgage, Florissant FHA zero down mortgage, Gladstone FHAzero down mortgage, Hazelwood FHA zero down mortgage, Independence FHA zero down mortgage, Jefferson City FHA zero down mortgage, Joplin FHA zero down mortgage, Kansas City FHA zero down mortgage, Kirkwood FHA zero down mortgage, Lee's Summit FHA zero down mortgage, Liberty FHA zero down mortgage, Maryland Heights FHA zero down mortgage, Raytown FHA zero down mortgage, St. Charles FHA zero down mortgage, St. Joseph FHA zero down mortgage, St. Louis FHA zero down mortgage, St. Peters FHA zero down mortgage, Springfield FHA zero down mortgage, University City FHA zero down mortgage, Wildwood FHA zero down mortgage.

FHA 100% MORTGAGE

Missouri FHA 100% mortgage, Ballwin FHA 100% mortgage, Blue Springs FHA 100% mortgage, Cape Girardeau FHA 100% mortgage, Chesterfield FHA 100% mortgage, Columbia FHA mortgage, Florissant FHA mortgage, Gladstone FHA mortgage, Hazelwood FHA mortgage, Independence FHA mortgage, Jefferson City FHA mortgage, Joplin FHA 100% mortgage, Kansas City FHA 100% mortgage, Kirkwood FHA 100% mortgage, Lee's Summit FHA 100%mortgage, Liberty FHA 100% mortgage, Maryland Heights FHA 100%mortgage, Raytown FHA 100%mortgage, St. Charles FHA 100% mortgage, St. Joseph FHA 100% mortgage, St. Louis FHA 100%mortgage, St. Peters FHA 100%mortgage, Springfield FHA 100% mortgage, University City FHA 100% mortgage, Wildwood FHA 100% mortgage

posted 01-03-06

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

AT A GLANCE:

2006 Discretionary Budget Authority: $28.5 billion
(Decrease from 2005: 11 percent)

Major Programs:

Section 8 Rental Assistance
Federal Housing Administration
Public Housing
HOME Improvement Partnerships Program
Homeless Assistance Programs
Housing for the Elderly and Disabled

No alt or caption tag

MEETING PRESIDENTIAL GOALS

Promoting Economic Opportunity and Ownership

Supporting the President’s ambitious agenda for expanded homeownership by assisting approximately 40,000 low-income families with the downpayment on their first home.
Preparing families for homeownership, identifying predatory lending practices, and helping current homeowners avoid default.
Proposing two new mortgage programs that would help more than 250,000 families achieve homeownership.
Supplying tax credits to increase the supply of single family affordable homes.

Supporting a Compassionate Society

Working to end chronic homelessness through innovative local strategies to move chronically homeless individuals from the street to permanent supportive housing.
Helping ex-offenders get a second chance at employment.

Making Government More Effective

Reforming Housing Vouchers to improve results and better serve two million low-income households.
Expanding outreach to faith-based and community organizations to level the playing field for the Department of Housing and Urban Development’s formula and competitive grants.
Reducing improper payments in rental assistance programs.

PROMOTING ECONOMIC OPPORTUNITY AND OWNERSHIP

More Americans have achieved the dream of homeownership than at any time in our Nation’s history: Sixty-nine percent of households own their homes. For the first time ever in 2004, a majority of minority households own their own homes. The 2006 Budget supports ambitious goals to:

Add 5.5 million new minority homeowners by 2010 (goal set in 2002)—1.9 million new minority homeowners were added by 2004; and
Increase the supply of affordable homeownership units by seven million over the next 10 years (goal set in 2004).

American Dream Downpayment Initiative

Saving enough cash for the downpayment and closing costs is the greatest obstacle to homeownership for many. To help overcome this obstacle, the President proposed new Department of Housing and Urban Development (HUD) funding to help low-income families purchase their first homes. On December 16, 2003, President Bush signed the American Dream Downpayment Act. Six months later, HUD distributed $161.5 million in downpayment funds to over 400 State and local Governments. These funds have already helped over 4,000 families purchase their first homes; 50 percent of those families are minorities. The 2006 Budget provides $200 million to continue this initiative.

Photograph of President George W. Bush sitting at a desk signing the American Dream Downpayment Act. Several other people are standing around him.

A photograph of Taryn Ramos with a little boy sitting on her lap who she is smiling at.

On December 16, 2003, President Bush signed the American Dream Downpayment Act. As a result of this initiative, on October 29, 2004, Taryn Ramos was able to purchase her first home with the downpayment assistance grants administered by Fresno, California.

Housing Counseling

The Budget proposes $40 million for Housing Counseling to prepare families for homeownership, identify predatory lending practices, and help current homeowners avoid default. In 2006, HUD will assist approximately 800,000 families to become homeowners or avoid foreclosure, using faith-based and community organizations in this effort.

Ensuring Government-Sponsored Enterprises Promote Affordable Housing

Government-sponsored enterprises (GSEs) were chartered to help low- and moderate-income families secure mortgages. HUD recently published a rule that requires Fannie Mae and Freddie Mac to increase their purchases of mortgages for low- and moderate-income households and underserved communities. These new goals will push the GSEs to genuinely lead the market in creating homeownership opportunities for less advantaged Americans.

In addition to increasing the annual housing goals through 2008 (see accompanying chart), HUD’s rule establishes new home purchase sub-goals in each of the three goal areas. This is intended to focus the GSE’s efforts on purchases of homes rather than refinancings. HUD projects that over the next four years, the GSEs will purchase an additional 400,000 home loans that meet these new and more aggressive goals as a result of the new rule.

FHA Zero Down Payment and Payment Incentives

To remove two large barriers to homeownership—the down payment and impaired credit—the Budget proposes two mortgage programs. The Zero Down Payment mortgage allows first-time buyers with a strong credit record to finance 100 percent of the home purchase price and closing costs. For borrowers with limited or weak credit histories, a second program, Payment Incentives, initially charges a higher insurance premium and reduces premiums after a period of on-time payments. In 2006, these new mortgage programs would assist more than 250,000 families achieve homeownership.

Single Family Homeownership Tax Credit

The President proposes a new Single Family Homeownership Tax Credit that will increase the supply of single family affordable homes by up to an additional 50,000 homes annually. Under the President’s plan, builders of affordable homes for middle-income purchasers will receive a tax credit. State housing finance agencies will award tax credits to single family developments located in a census tract with median income equal to 80 percent or less of area median income and will be limited to homebuyers in the same income range. The credits may not exceed 50 percent of the cost of constructing a new home or rehabilitating an existing property. Each State would have a homeownership credit ceiling adjusted for inflation each year and equal to the greater of $1.75 times the State population or $2 million. In total, the tax credit will provide $2.5 billion over five years.

Homeownership Vouchers

The Homeownership Voucher program, while still new, has successfully paved a path for low-income Americans to become homeowners. Strong and committed collaboration among public housing agencies, local non-profits, and lenders, as well as pre- and post-homeownership counseling for families has proven essential in making the program work. The greatest challenge to the success of the program is finding lenders who are willing to participate.

Although the Homeownership Voucher program is voluntary, a Program Assessment Rating Tool analysis completed on the program shows that it has over-achieved its annual goals consistently since the program began. In its first four years, the program helped over 2,000 low-income families that were renting through the Section 8 program to become homeowners. In 2006, the program plans to assist 5,000 families achieve homeownership.

Neighborhood Reinvestment Corporation

The Budget increases funding for the Neighborhood Reinvestment Corporation to $118 million. The Corporation, a public nonprofit organization chartered by the Congress in 1978 and independent of HUD, is also working to expand minority homeownership. The Corporation is pledging to provide direct assistance to over 170,000 families in 2006 through affordable mortgage and rehabilitation lending, comprehensive homebuyer education, and counseling services.

Corporate Headquarter: 417 Welshwood Dr. Suite 210, Nashville, TN 37211

A I Mortgage Inc, Tennessee #1516 HUD Lender (registrant) Kentucy, Missouri, Indiana, HUD Exemption. HUD 16545-0000-0. Colorado Exempt.

HUD National Direct Lender #16545-0001-7.

Missouri, Indiana,

FHA ZERO DOWN MORTGAGE !

HUD PROPOSED CHANGES

FHA 100% MORTGAGE, FHA 103% MORTGAGE

FHA 100% FIRST TIME HOME BUYER PROGRAMS

CURRENTLY 97%PLUS 3% GIFT = 100% FINANCING

Zero down mortgage home loans have been available with Fannie Mae and Freddie Mac for years. Now the federal government wants to get into the 100% home loan business! That’s Big News for home buyers that struggle with down

Payment and closing cost .

Borrowers would be able to take out no-money-down mortgages insured by the Federal Housing Administration under a proposal by the housing department. Right now, FHA-insured loans are limited to a maximum of 97 percent of the home's price, meaning that homeowners have to come up with a 3 percent down payment.

FHA-insured, zero-down loans won't be available until October at the earliest, because the proposal will be included in the Department of Housing and Urban Development's fiscal 2005 budget proposal. The fiscal year begins Oct. 1. Allowing zero-down, FHA-insured mortgages would require congressional approval.

Under the proposal, home buyers not only would be able to get FHA-insured loans with no money down, but they could roll some closing costs into the loan. The maximum loan size, then, would be 103 percent of the home's price.

Help for first-time buyers
The proposed change would remove the biggest obstacle facing first-time home buyers, says John Weicher, the federal housing commissioner. "This initiative would not only address a major hurdle to homeownership and allow many renters to afford their own home, it would help these families build wealth and become true stakeholders in their communities," Weicher says.

The Bush administration has a goal to create 5.5 million new minority homeowners by 2010. The FHA estimates that the zero-down option would generate 150,000 new homeowners in the first year.

Zero-down mortgage loans were not always offered. They are riskier loans because zero-down borrowers are deemed more likely to default, and when they do default, the lender is more likely to lose money. But as mainstream mortgage lenders have found that they can make money by lending to shaky borrowers at high rates, zero-down loans have become widely available. Now, under HUD's proposal, lenders would be able to offer zero-down loans and let the FHA insurance pool assume the risk. The insurance pool is funded by borrowers, not by taxpayers.

How will the proposal work
FHA borrowers would pay more, both upfront and monthly, for the privilege of not making a down payment Today, if a home buyer makes a 3 percent down payment and gets an FHA-insured mortgage, the buyer pays an upfront mortgage insurance premium of 1.5 percent at closing, and half a percentage point is tacked onto the interest rate. Under the proposal, a riskier zero-down loan would incur a mortgage insurance premium of 2.25 percent at closing, and three-quarters of a percentage point would be added to the interest rate for the first five years of the loan. After five years, the interest rate would be reduced by one-quarter point.

It would mean slightly higher payments for zero-down borrowers. Consider the case of Jack, who puts 3 percent down and borrows $100,000, and Jill, who gets a zero-down loan for $100,000. Both get their loans when mortgage rates average 6 percent for people with good credit who put 20 percent down.

Example BORROWER 1 would pay a $1,500 insurance premium as part of his closing costs. He would pay 6.5 percent interest, for monthly payments (principal and interest) of $632.07. Borrower 2 would pay a $2,250 insurance premium as part of closing costs (or $750 more than Borrower 1) and would pay 6.75 percent interest, for monthly payments of $648.60 ($16 more than borrower 1 monthly payment). After five years, her monthly principal and interest would drop to $632.07, the same as Borrower 1 pays.

Borrower 2 could add the upfront mortgage insurance premium to the loan amount, borrowing $102,250; that would raise the initial monthly principal and interest payments to $663.19, or $31 more than borrower 1 monthly payment.