Are you ready to take the plunge into homeownership but don’t have the savings to make a substantial down payment? Don’t worry; the recent return of 100% mortgages may be exactly what you’re looking for.
While this kind of financing can make the cost of purchasing a home much more manageable, it is important for customers to understand the approval process and to weigh the pros and cons of such a product.
One company taking steps to make the process smoother and more straightforward is Wayhome. Its co-founder and CEO, Nigel Purves, commented: “We recognize the struggles of home ownership and the desire for a more affordable option. Our mission is to give homebuyers access to more options that can suit their needs and budget.”
To that end, Wayhome has changed the game when it comes to 100% home loans. It offers customers a range of options that can help them find the best fit for their unique financial situation.
For starters, Wayhome assesses each person’s ability to successfully manage a 100% loan by taking into account their credit rating, their employment history, and their current assets.
Next, after a successful application process, Wayhome helps customers identify low-cost loans that are available in their area. These loans can help keep monthly mortgage payments low, while still providing a path to homeownership.
Finally, Wayhome also supports customers as they go through the home buying journey by helping them understand the finer points of the loan process.
For those looking to become homeowners with minimal savings, 100% mortgages are an attractive solution. However, it is essential to understand the details and the options available before committing to a product. Wayhome helps make those details accessible so customers can confidently make the best decision that fits their budget.