100% Financing IS Available in Blacksburg

For the longest time I’ve been under the impression that 100% loans have not been available within Blacksburg and Montgomery County; those programs just haven’t been available. Then earlier this week, I learned of a program that StellarOne Bank has been offering to do just that.

The requirements are:

  • up to $300000 loan value
  • 700 credit score
  • borrower(s) can’t make more than $68800 per household
  • if you’ve had a foreclosure or bankruptcy more than 36 months from loan application, you may still qualify

This is potentially really big news for folks who have been struggling to get into the Blacksburg real estate market. It won’t fit everyone, but for many it will. You can find out more below, and contact Sandra Chafin at StellarOne for even more details.

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  1. Jeremy says:

    Excellent, Marianne – and rates are competitive? Thanks for sharing.

    Marianne is at Wells Fargo, marianne.washington@wellsfargo.com if you’d like to reach out to her for more information.

  2. marianne says:

    Jeremy – there is another option for 100% financing in Blacksburg – a FHA first mortgage with a VHDA second. We can actually do 105% with a 680 middle credit risk score.

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