In Brief: Full Spectrum Offers Zero-Down Program

February 23, 2001, 2:00 a.m. EST 1 Min Read

PASADENA, Calif. Full Spectrum Lending Inc., the subprime lending subsidiary of Countrywide Credit Industries Inc., announced a loan program on Thursday that offers no-down-payment mortgages to people with less-than-perfect credit.

Subprime borrowers can finance 100% of a homes value up to $500,000 through a combination of first- and second-lien fixed-rate mortgages, the company said.

This program is ideal for homebuyers who may not have perfect credit, said Paul Abbamonto, president of Full Spectrum Lending. With our zero-down program, borrowers need only use cash for loan closing costs.

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