What is 100% Mortgage?
Definition of 100% Mortgage
It is a home loan in which the client gets an amount borrowed comparative to the total value of the residence to be bought.
Description of 100% Mortgage
In this situation, the client does not need to make a down payment to secure the credit. A 100% Mortgage gives an individual with little or no cash the opportunity to purchase a house or a similar residence. The financing is usually secured by investments, such as ties and shares, currently belonging to the client. Two significant disadvantages to the 100% Mortgage are higher rates of interest and the probability that the customer’s investments will be liquidated to cover a security call.[/wr_column]][wr_text]It is a home loan in which the client gets an amount borrowed comparative to the total value of the residence to be bought.