Help For First Time Home Buyers

Help For First Time Home Buyers

There has been some great news recently from both Fannie Mae and Freddie Mac. With new programs available, first time home buyers will have the opportunity to qualify for loans with down payments starting at 3%. Freddie Mac’s Home Possible Advantage has a maximum loan-to-value ratio of 97 percent. Participation in a program for borrower education will also be required in order to be eligible. Fannie Mae’s program will have normal guidelines and will require private mortgage insurance. This should open doors for many who cannot afford a large lump sum down payment, and will make it easier for people to move from renting into buying their own home. Without a 20% down payment holding you back, there are endless opportunities. Give me a call and we can discuss it further!

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Phone: 252-202-8148
Dated: December 16th 2014
Views: 713
About Alex: With a degree in Marine Biology Alex has always been drawn to the ocean and so it was no surprise wh...

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Kitty Hawk, NC