In the spirit of contribution, collaboration and community, I am pleased to bring you this, the first of many partnership interviews with experts I love and trust to improve the value of your home.
Loans To Own Your Own Home
Owning a home is a big part of the American dream. I hear people say all the time that they either don't have or still need to save the 20% required for a down payment. Did you know there are numerous programs that allow for a very low to zero down payment? For millions of people just like you, a variety of flexible home loan programs has been the key to making the dream of home ownership come true.
Think your income is too low or too high? With an FHA loan there are no income restrictions. FHA programs are for virtually everyone, with lots of advantages for those qualify. Here’s how it works: FHA insures your loan, enabling lenders to offer more flexible credit requirements and financing options, not to mention down payment as low as 3.5%. New lower mortgage insurance premiums are putting the dream within the reach of many responsible homeowners.
Are you or your spouse an active or veteran service member of the US Armed Forces? Did you know that eligible veterans can get a VA home loan at any age and can reuse the benefit multiple times? Unlike conventional and FHA loans, Most VA loans do not require a down payment, leaving more money in your pocket. VA guaranteed more than $44 billion in home loans to more than 705,000 veteran and service members home buyers in 2016, the highest loan volume in program history. In addition, VA’s specially adapted housing grants may help eligible veterans with certain service connected disability modify their homes to allow them to live more independently. In addition to no down payment, these loans typically save you money due to competitive interest rates and limited fees charged at closing. VA loans have no private mortgage insurance requirement, lowering your monthly mortgage payment and saving you thousands of dollars annually and over the life of the loan.
Did you know...
Conventional loans requires only 3% down?
FHA Loans require only 3.5% down?
VA/USDA loans often require 0% down?
How do you know what kind of home loan is right for you? It’s simple. Here at Keller Williams Realty, I work with qualified lenders who will answer all your questions and help you explore your options. I will put you in touch with resources that can give you information on the full range of Conventional, FHA and VA eligibility, as well as provide credit and income requirements.
Everyone's situation is different. Call me at 609-760-4334 and we will take a look at yours. In the meantime, visit my website at www.denisepetti.com to begin your search for your next home.
Sam Lepore is a Realtor with Keller Williams in Moorestown, NJ. Call him today at 856.297.6827 ....