Any lender will want to make sure you are able to afford the home you buy. Typically, you are eligible to purchase a home worth two or three times your annual income, depending on your savings and debts.
No Down payment Loan - 80/20 Option
The main advantage of this type of loan, also known as 100% financing, is the ability to buy a home with almost no money down. If you have a strong credit profile but have limited funds to commit to a down payment, then 80/20 mortgage is just right for you.
