What are my options for no down payment mortgage loans?

Your options for zero down payment on a second home are zero. Your best option is to consider doing a cash-out refinance on your primary home and use the excess funds as a down payment on your second/vacation home. My group is licensed in MI and I am also from your area and very familiar with MI properties. Please feel free to contact me if you would like to explore your options.

Most vacation home loans require 20% down payment. Consider a refinance on your residence, for cash out, and put that money in the bank for 2 months, to establish seasoning, and use it for the down payment.

There are not any 0 down payment programs available on a vacation home. You can pull cash out of the primary residence on a cash out refinance. If you can prove the cash in your savings account came from the cash out refinance you don't need to have it seasoned for 2 months.Call me for more information, Thanks,Gus Dahlgren517-489-2440

Sorry you will need at least 20%. The maximum loan to value for cash out is 85% if you have enough equity in your current home.

Single Family 2nd homes require 10% down with most lenders / brokers.....no $0.00 down programs available on a vacation property.

Your only chance for a zero down loan on a second/vacation home is to find one with seller financing on those terms. This will severely limit the number of available properties however.

If you are age eligible, you might look at doing a reverse mortgage on your primary home.

Sorry to say there is no option

There are not any current loan options for vacation properties with zero down payments. Usually you will need to be able to put down 20 percent on the property.

ZERO possibility on 2nd homes. Short answer. Sorry.

Vacation homes require 20% down - they treat them different from a primary residence. Would you want to do a home equity loan on your current home for a down payment you could do that. $75 for closing costs only on a home equity.

Hi Miguel -- There are many good responses on here. The bottom line is that even though there are no products for second homes with 0% down, there could be solutions to helping you purchase a second home. The best way to do that is by having an interactive conversation with and experienced loan officer. I am in East Lansing and work with clients here, the Ann Arbor market and in the Metro Detroit market. I'd be happy to talk this through with you if you'd like. =Mike Silkworth, Sr Loan Officer 517-489-2328, msilkworth@unmhq.com