First Time Home buyer

hi if you’re in the market to purchase your first home the new come to the right spot to get informed I’m these great options that exist for your and today I’m a highlight a few programs for your so let’s begin first let’s cover a paycheck which stands for the Federal Housing Administration who is the largest insurer of mortgages in the world in four great reason many people think FHA is the actual lender but they’re not there a set of guidelines for approved FHA lenders like us to qualify somebody like you for long the FHA guarantees the loan now as long as the standards are met lending institution to approve the loan what’s great about FHA is that there is very low down payment requirement requiring only 3.5 percent down at closing job you applied for a 100,000 our home loan you only have to come up with thirty five hundred dollars and plus mortgage interest which will talk about a second but even better I is that they will allow up to hoe 100 percent of those funds to be gifted fun from somebody else talk your parents or somebody in no one to help you get going and give gift you that down payment you can do that with an FHA loan in the documentation process furthermore FHA doesn’t require a social security number now this may or may not be for you but not every home buyer will have a valid social security number according the FHA that’s okay feta guidelines permit loans to employees of the World Bank in foreign embassies for example the FAA to also ensure loans for non permanent resident aliens sophomore the bigger attraction to the program is there looser credit guidelines over the conventional mortgage FHA has a very flexible credit standards have all the loan types available today in the US market FHA loans are amongst the most forgiving respective credit standards now the FHA does not require perfect credit and even instructs approved lenders to look beyond isolating credit event and it considering powers complete credit history regardless under actual score what the number is selected be a really good scenario for you the first time home buyer who may have some credit issues or not established enough credit at this point even powers with the recent foreclosure listen carefully even borrowers with recent foreclosure short sale deed in lieu or bankruptcy can be eligible for FHA financing mandatory three-year waiting periods do not exist with an FHA loan the price you pay is flexibility when it comes to an FHA mortgage because with FHA while the credit guidelines are looser the low down payment program there’s a 1.5 percent mortgage insurance premium that you have to pay and that’s the price for the FHA flexibility now the second product I want to introduce to you which is are really grown tremendously as a late it’s called the conventional 97 program which was discontinued and is now back in full force
through the Federal Home Finance agency this is an incredible product is actually more advantageous and even FHA requiring only three percent down and like FHA the entire three percent payment can also be gifted funds now depending on your in your house or income you may also qualify for low or private monthly insurance premiums so you can really see the advantages other they are conventional 97 traditional credit score guidelines vary from lender to lender but this is an incredible opportunity yes save a half a point over the FHA loan and you don’t have to pay the 1.5 percent mortgage insurance premium P that’s required with the paycheck truly an incredible program now which one is best for you should be discussed with a reputable loan originator I would be honored to help in any way now if you’re a veteran or if you’re looking for a home in is only qualified qualifies you for what’s called an USDA loan are those two lonesome again be a loner USDA are zero percent down loan products are also included a link below where you can search maybe you’re looking at a home that is qualifies you for a long USDA loan we have a zero percent down opportunity take a look at that link look at the the zone the section you’re looking to purchase a home who knows you may qualify you can always contact me and I’ll be happy to assist you to find out what loan is best for you if you would enter your name and email address on this page and I will get you your e answers how also send you top questions that people have common questions regarding FHA questions like what’s the minimum credit score what about a short sale, foreclosure bankruptcy do they do construction loans with Tia the loan size limited much more
now also said to the Freak most frequently asked questions on the conventional 97 program questions like What income documentation does the program require are their property type: restrictions for the conventional 97 program and what’s the maximum loan size also send you instantly a video they breaks down interest rates and explains the difference between quoted rate and APR what you’re really being quoted when somebody quote you for a mortgage were to help you become a better shopper also a downloadable checklist and what you’ll need to prepare in order to properly apply for a mortgage I hope this videos helped him I can’t think information below please don’t hesitate to call me directly I love talking mortgages
thank you very much