Thursday, April 19, 2007

More First-Time Home Owner Mortgage Assistance!

Boy, sometimes it pays to be a first-time homeowner!  Here are two more programs that you can take advantage of to get yourself into your first home.  One of our lenders has given me the information to pass onto you, so if you're interested, please contact any of us at the Butterworth Group and we can connect you with our fantastic lenders who can get the process rolling for you!

"My Community" is a 100% financing option available for first time home buyers.  It allows for marginal credit but will require full disclosure of income.  The unique aspect of the program is the debt to income ratio they require is extremely favorable and they will allow the seller to pay all costs.

The "Home in 5" Mortgage assistance program is a unique product that is available through one of our lender's affiliates (our lender can refer you to who you can speak with about it).  This program will provide the buyer a 5% down payment at no cost or repayment if they qualify.  It allows for marginal credit, fairly high debt to income ratios, and a very favorable interest rate.  The catches with this one are that the home cannot be more than $311K and the borrowers annual income must be less than $65K. 

If you're interested, please contact us with your questions!