For the first time in years, the price of a home has decreased, giving more and more people the option of owning their first home. There are a few different programs that offer even more savings, such as low to zero down mortgage loans. These various programs give the first time home owner incentive to take advantage of the low cost of buying a home.
A few notable mortgage brokers programs are offered to those who have marginal to fair credit scores and want to buy their first home. These are a couple popular mortgage lenders that offer really good deals for zero or low down payment.
1. USDA has a program that is designed for those who would like to purchase their first home in a targeted rural area. There are a few income restrictions, and they get an interest rate of 3. 5%.
2. A company called Crown Financial Solutions offers low to moderate income borrowers the chance at owning a home for as little as 3.5% down.
Along with private mortgage brokers offering programs to assist in buying a home, the government offers a few options, the most popular being FHA. This program looks at the last 1-2 years of payment history to see if there are any questions about the credit of the person applying for the loan. FHA often helps those with fair to moderate credit history. When applying for FHA, there can't be any bankruptcies in the past two years. The applicant should also have an excellent credit record after the bankruptcy as been discharged.
Owning a home is fairly easy as long as your credit history is fair to moderate. With zero down mortgage loans and the price of homes lowering, it is easier than ever to buy the first home. With the prices of homes and programs such as the ones mentioned, it truly is a great time to buy a home.
A few notable mortgage brokers programs are offered to those who have marginal to fair credit scores and want to buy their first home. These are a couple popular mortgage lenders that offer really good deals for zero or low down payment.
1. USDA has a program that is designed for those who would like to purchase their first home in a targeted rural area. There are a few income restrictions, and they get an interest rate of 3. 5%.
2. A company called Crown Financial Solutions offers low to moderate income borrowers the chance at owning a home for as little as 3.5% down.
Along with private mortgage brokers offering programs to assist in buying a home, the government offers a few options, the most popular being FHA. This program looks at the last 1-2 years of payment history to see if there are any questions about the credit of the person applying for the loan. FHA often helps those with fair to moderate credit history. When applying for FHA, there can't be any bankruptcies in the past two years. The applicant should also have an excellent credit record after the bankruptcy as been discharged.
Owning a home is fairly easy as long as your credit history is fair to moderate. With zero down mortgage loans and the price of homes lowering, it is easier than ever to buy the first home. With the prices of homes and programs such as the ones mentioned, it truly is a great time to buy a home.
About the Author:
If you happen to be looking to Buy a Home then visit Rob Kosbergs' Complete FREE report on Attaining your PerfectHome with a Zero Down Mortgage or for up to date Mortgage info visit my Mortgage Blog
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