Dreaming of owning your first home but struggling to save for a down payment? You’re not alone. With People Driven Credit Union’s Zero Down Purchase Program, you can buy your dream home with 100% financing and no Private Mortgage Insurance (PMI).
100% Financing for Primary Residences
Through this program, qualified borrowers can finance up to 100% of the purchase price of their primary residence. That means no down payment is required. You can stop renting and start building equity sooner.
Why It’s a Game-Changer
- 0% down required – keep your savings for furniture or moving costs
- No PMI – that’s money back in your pocket each month
- Available statewide – from Detroit to the Upper Peninsula
- Loan amounts up to $350,000
- Fixed and ARM loan options to fit your lifestyle
- No special LLPAs (Loan-Level Price Adjustments)
- Minimum credit score: 740 | Max DTI: 37%
This program helps eliminate the most significant barrier for most buyers, which is coming up with a hefty down payment. Whether you’re renting, recently relocated, or rebuilding your finances, this is your chance to own a home sooner than you thought possible.
Who’s Eligible?
The Zero Down Purchase Program is available to both first-time and repeat homebuyers purchasing a primary residence in Michigan. Program terms may vary based on credit history, debt-to-income ratio, and property eligibility.
Let’s Make It Happen
You don’t need 20% down to move into the home you love, just the right lender.
Ready to take the first step? Contact us today to learn more:
All loans are subject to credit approval. Terms and conditions apply. Program availability is subject to change without notice.