brought to you by the every dollar app start budgeting for free today let's talk about the

scariest latest trend in the mortgage world zero down payment mortgages return the return of the

zero down payment mortgage amid high housing costs george i wanted to jump out of my skin when

i saw this united here it is, United wholesale

mortgage. It's UWM. It's like a billionaire. There's a billionaire at the helm of this company.

And so he's launched a new zero percent down mortgage program. And I'm going to read this as it is,

but just no, I don't think that this is good,

but they make it sound good. This program allows qualified buyers to finance 97% of their home's

value with the first mortgage. The remaining 3% up to 15,000 is covered by a secondary mortgage.

So you start out with two mortgages that carry no

interest, but, and this is a big old booty, must be repaid in full when the home is sold.

Or the mortgage is paid off. Or the mortgage is paid off. Or you refinance. That's a lot.

That's some handcuffs, right? This is a tiny prison that you are paying to live in.

That's what's happening here.

So here's an example.

Purchasing a home at 300 grand would entail a $9,000, no interest loan for your down payment.

To qualify for the maximum $15,000, your house would be $500,000.

So the maximum you could get is $15,000, which means the maximum home price would be

500 grand. But if you, can we just talk about the, the big elephant in the room, which is you want to

get a half a million dollar mortgage? Do you really think you should be getting a half a million

dollar mortgage if you can't put up any cash for a down payment. Most people doing

these are broke, which means they have no savings, they've no emergency fund, one emergency pops up,

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