First Time Home Buyer

There are many exciting new mortgage loan programs for today’s first time home buyer.

We will take you through some of them below.

FHLMC – Home Possible Program

  • Finance up to 97% Loan to Value (LTV) for purchases and rate and term refinances
  • Down-payment can be a gift
  • Cheaper Mortgage Insurance
  • Simpler student loan requirements

FNMA – DU-97

  • Finance up to 97% Loan to Value (LTV) for purchases
  • Rate and Term Refinances must be DU to DU
  • Affordable Mortgage Insurance
  • Credit score as low as 620 allowed

FHA Loan Programs

  • Financing up to 96.50% Loan to Value (LTV)
  • Higher Qualifying Ratios
  • Relaxed Credit Guidelines
  • Credit score as low as 580 allowed
  • Lower rates allow for higher credits toward closing cost

Other Programs

Follow the links below for other programs of interest: