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:
