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No Down Payment Necessary!


Mortgage Options, Inc. is proud to announce a new mortgage product now available to their first time home buyers. The Within Reach™ mortgage is a new, no-down-payment, home loan that also gives the borrowers a 4.5% grant to go towards closing costs, down payment or both!

No Down Payment Mortgages

Mortgage Options, Inc. offers a few no-down-payment loans to their clients. The most popular are a USDA Rural Housing loan or a VA Loan, available to military personnel. The South Carolina State Housing Finance and Development Authority also offers down payment/closing cost assistance to help you in purchasing a home with little or no out of pocket funds.

What makes the Within Reach™ program different?

While the USDA Rural Housing loans restrict where you can buy a home (must be a designated, rural area), and VA loans are available only to military personnel, the Within Reach™ loan is available for first time home buyers who meet the following requirements:

  • Credit score of 620 or above
  • Income limits are higher than other loans, anywhere from $65,000 to $80,000, depending on where you are buying a home
  • Maximum loan amount of $424,100
  • Available for use on FHA loans
  • No cosigners required
  • No rent history required
  • Previous bankruptcy is okay
  • Primary residence only

Receive a 4.5% gift to cover closing costs, down payment or both!

This is what makes this loan truly stand out. Through an educational grant program, the borrower receives 4.5% of the loan amount as a gift to cover closing costs, down payment or both. While the SC State Housing Authority also offers down payment and closing cost assistance, their gift must be repaid. Because the Within Reach™ uses grants, no repayment is required! The educational component of the grant will consist of online classes with minimal time commitment.

The Within Reach™ Loan is Quicker, Cheaper and Easier!

If you are a first time home buyer worried about the out-of-pocket costs of a mortgage, the Within Reach™ mortgage might be the right choice for you. Speak to a loan officer at Mortgage Options, Inc. to discuss all mortgage loans available and find the one that works for you. Call 803.732.5787.