100% Financing is an FHA loan where the typical 3.5% required down payment is provided to you by the lender and can only be used for a down payment. The money is subordinated as a second lien with simple interest and in some cases, no interest or repayment. There are no monthly payments, ever. There are income limits based on your county and loan limits. The interest rate is fixed for 30 years at competitive going market rates. You are required to have a 620 credit score to qualify, but a majority of all closing costs are paid. The loan closes in the standard 30-40 days.