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.

First Time Home Buyer – 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

First Time Home Buyer – 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

First Time Home Buyer – 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

First Time Home Buyer – Other Programs

Follow the links below for other programs of interest: