Limited Funds?... You Can Still Buy A Home
If you have limited funds but wish to buy a home now that interest rates are at 40 year lows, there are ways available.
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Analyze your budget and determine how much you can spend on a monthly house payment. |
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Look for home loans with the lowest rates and longest terms. Have your mortgage professional calculate how much lower your payment would be with buy down points. |
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Learn about all the lending options available. As an example, an interest only feature will lower your monthly payment. |
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For some borrowers who do not have enough funds for a down payment, there are piggy-back loans available whereas 80% of the loan is borrowed on a first mortgage followed by 10% borrowed on a second mortgage with a higher rate. You would then only need 10% as a down payment. Also, some lenders will provide an 80/15/5 loan requiring only 5% as a down payment and some offer 80/20/0 loans requiring no down payment. |
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As you can see there are many ways to get into that house now while interest rates are low. Budget wisely and find the right loan package and the American Dream of home ownership can be yours sooner than you think.
Simply go to the "submit information" tab on this web site... fill in your information and Peter will e-mail or fax back to you several loan options with detailed payment information. It's fast and simple. Or if you prefer, send your information to Peteru@Clarionmortgage.com and Peter will e-mail the information back. There will be no unsolicited phone calls made.
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