Mortgage Loan Guidelines for Home Buyers: We frequently talk to current renters who would like to buy a home, but don’t think there is any way they can afford one. Yet, there are many options available to home buyers now. For instance, did you know:
- There are bond loan programs and USDA financing that require little or NO down payment for a house?
- Some home mortgages allow only 3% down without a bond program?
- If you had a foreclosure, bankruptcy, or short sale you can qualify to get another home mortgage in as little as 3 years?
- If you receive child support, this can be counted in your monthly income to buy a home?
- Home sellers can contribute money toward your closing costs to buy a home?
- Your minimum credit score for some loan types is only 620?
- Most lenders allow you to receive gift funds (ie-from a family member, etc) to use toward your home purchase?
- You can structure your loan so you don’t have to pay Private Mortgage Insurance (PMI) even if you put down less than 20%?
Also, I have one mortgage lender that has $0 lender/processing fees and can give you back $1,000 at the closing of your home--this can save you thousands of dollars (ie-$5,000+)!
Contact me today so I can review your situation and show you just how easy it is to buy a home. Doing so sooner, rather than later allows you to buy a home before prices, interest rates and inflation push the dream out of your reach!
Homeownership is Key to Household Wealth