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First Time Home Buyer Information                                                                                                  

First time home buyer information and programs are my specialty. Below is first time home buyer information on programs allowing you to buy your first home with a low down payment. Many first time home buyer programs allow more debt than "conventional" loans. Be sure to visit the Mortgage Library for more first time home buyer information. Here is a short PowerPoint presentation with first time home buyer information
 
  1. FHA First Time Home Buyer Information – Often the best choice in first time home buyer programs.
  2. Aggressive Home Loan information - FHA clone but allows 3% down payment to $417,000 Only for the first time home buyer
  3. Neighborhood Advantage information – 100% Financing for a first time home buyer. Requires good credit and has some income restrictions but great flexibility. 
  4. Zero Down Mortgage information - First time home buyer program allows 100% financing.
  5. Nehemiah Foundation FHA Loans information – No down payment program. Standard FHA underwriting guidelines.
  6. Nehemiah Conventional Program information - Higher loan limits. 102% financing 1% downpayment. 
  7. VA Loans information –100% to $417,000 including VA Funding Fee. 
  8. 80/20 First Time Home Buyer information –No money down combination program. 
  9. CreditFlex 97 – 97% LTV requires 1% cash. Remaining funds may be gift/loan with closing costs financed. 
  10. Option Arm Mortgage- A new series of arms offering extremely low minimum payments and 40 year terms. To 95% with Lender Paid Mortgage Insurance 
  11. Homebuyer's 107% LTV - 107% LTV. Purchase or refinance and finance the sales price, closing costs, and reduce your consumer debt all in one loan
  12. 103% mortgage financing 30 year fixed rate or 7 year ARM program finances sales price and closing costs.
  13. Conventional loans - to 95% combined LTV. Referred to as 80/15/5 or 80/10/10. Eliminate Mortgage Insurance and maximize your tax benefits.
  14. Teacher-Flex - Special program for teachers and school employees
  15. Interest Only Mortgage- Offer low payments and flexibility. You may qualify for more home than you think!

Read more about Closing Costs

I have a page on calculating qualification ratios. I have a page on documentation requirements.

Learn more about first time home buyer programs in the Mortgage Library  I also have a Free report "Buying your First Home" available by email.

I am seeing more first time home buyers evaluating an interest only mortgage approach to help you qualify for a larger loan or to reduce your payment.

This gives you an idea of the variety of low down payment loans available for the first time home buyer. Please let me know your situation and I will prequalify you for several first time homebuyer programs. 

Learn more about improving your credit scores

In 2008, Short Sales are where most of the bargains in real estate are and they are NOT just for investors. Learn more about Short Sales

I have an article "Buying your home in 2008" by email explaining negotiating strategy in today's market.

As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your consumer and mortgage debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.

First Time Home Buyer InformationPrequalify for your First Time Home buyer Information Program

 

 

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Extensive consumer information on construction,remodeling, first time homebuyer,and no documentation mortgages.