Monday, February 15, 2016

First-Time Homebuyer Loans

ARE THERE SPECIAL MORTGAGES FOR FIRST-TIME
HOMEBUYERS?
Yes

Affordable First time home buyer options

WSHFC Home Advantage

NHF Platinum

MCC Tax Credit

WHAT IS AN NHF PLATINUM LOAN?

True Grant For Down Payment and Closing Costs
and or Pre-Paid Items

Income Less Than $103,040 In King and Snohomish
Counties

FHA/VA 5% of First Mortgage Amount

Conventional 3% of First Mortgage Amount

USDA 3% of First Mortgage Amount

QUALIFYING

FHA 640-659 FICO 45% DTI

FHA 660 and Above 50% DTI

Manufactured Homes    660 FICO

FNMA My Community 97% 680, FICO FNMA Income

FNMA My Community 95% 640, FICO FNMA MCM

FNMA Condo 95% and lower LTVs

Standard FNMA 95% 740 FICO 140% Area Median
Income

1 Unit Properties only

Maximum Loan Amounts $417,000

1.5% Origination Fee All Programs

This is simply a general outline of financing available for first-time homebuyers. If you are interested in learning more about your qualifications to buy your first house, please send me a private message at HomeLandInvestment@gmail.com or call my 24/7 recorded hotline at 888-621-4999.

Happy Investing!

Today's blog courtesy of Cheryl Taylor, American Pacific Mortgage

2 comments:

cheryl Taylor said...

Hi Wendy, The challenge for many first time home buyers is to be fully aware of their credit Scores, and to take action to put themselves on a path to improve their scores so they can get what they want in a mortgage.
Also,on a very positive note... We are at a new low in market rates. http://www.mortgagenewsdaily.com/consumer_rates/566495.aspx

Wendy Ceccherelli said...

Thanks, Cheryl! This information is very valuable for my first time home buyers out there!