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Creekside Village
Zero Down Program

Qualifying is Easier Than You Think

Our easy NO MONEY DOWN financing protects your savings account and quickly moves your family into a new home in a beautiful, new community. The option is so simple that paying a mortgage, instead of your rent, is nearly transparent.

With LGI Homes' No Money Down option, you'll find
it may be less expensive to purchase a house than move
to a new apartment.

Like hundreds of other families, you may qualify to move into your new LGI home with no money out of pocket. In many cases your mortgage payment is even less than paying rent, and federal income tax payers get a great tax deduction from the mortgage interest!

Every family's situation is different. Our expert residential and mortgage specialists will be happy to run through the calculations for you with your particular needs in mind, and show you the best and most affordable way to buy that dream home from LGI Homes. There's no obligation!

Steps to Ownership

Or, contact us by email to request more information.

Find out how you can realize your dream of owning a new, affordable home in a beautiful new community, for No Money Down and payments to fit your budget!

Credit Troubles? See how LGI Homes can help.

 

Mortgage FAQs

1) What's my monthly payment going to be?

   Principal $99,900 (Purchase Price)
+ interest on the loan (6.5% Fixed, 30 year term)
$599 per month
(This example is based on approved credit with no money down. Principal: $99,900 purchase price )

2) Are taxes and insurance included?
Yes, each month taxes and insurance are added to your principal and interest. The taxes and insurance portion of your payment is deposited into an "escrow" account with your loan company. At the end of the year, your taxes and insurance are paid by the loan company from that account.

3) Can I refinance?
Most loans on an LGI home are written by FHA. At any time you are able to refinance your home, sell it, or pay more money toward the principal balance.

4) Are my payments going to increase?
The principal and interest on a "fixed" rate loan will not change unless you refinance. Taxes and insurance are subject to change as determined by the county tax rates and insurance provider.

5) What is a FICO score?
Your FICO score is used to determine your qualifications for a home loan. Based on your personal financial history, a number- or rating- is applied to your credit. FHA loans are not dependent on FICO score.

6) What is the difference between pre-qualifying and pre-approval?
An LGI Homes consultant can run a preliminary credit report and discuss some financial background information to pre-approve your eligibility for a new home. The next step is to work with an InterLinc Mortgage consultant and present documents that validate your financial status to actually pre-qualify you for your home loan.

7) What is a Rate Lock?
The loan process will take up to 30 days, and interest rates may go up or down slightly during that time. A home buyer can "lock in" an interest rate at the start of the loan process to avoid a potential rate increase.

8) What is Mortgage Insurance?
Mortgage Insurance is required by the lender when a homebuyer pays less than 22% of the purchase price at closing. On a $130,000 loan MIP is approximately $55 per month and is included in the monthly payment price quoted to you by your LGI new homes consultant.

9) What is the difference between Mortgage Insurance and Homeowners Insurance?
Mortgage insurance protects the bank against foreclosure should a homeowner fail to make monthly payments. Homeowners insurance protects you, the homeowner, against potential loss or damage to your home.

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