To help my clients get the best financing available to them, I recently attended a seminar offered by Jeff Kraus of Mortgage America. The products he shared were amazing. There were financing options for the “first time home buyer”. Most may not realize that a first time homebuyer is anyone not owning a home within the past 3 years. So, if you were not on the deed of a property in the last 3 years, you can take advantage of those programs. There were also great products for other home buyers also. Most products were through the PHFA (Pennsylvania Housing Finance Agency) in conjunction with your Conventional, FHA, USDA or VA loan.
Some of these products could offer:
- Lower Credit Score acceptance
- Lower monthly Mortgage insurance
- Possibly NO mortgage insurance
- One time mortgage insurance to lower monthly payments
- Lower interest rate
- Tax credit products
- Lender assist products
Some of these items could produce more buying power for buyers. It may help buyers make a more competitive offer in today’s housing market. Feel free to contact me to arrange a one on one consultation to review your housing needs and see if you qualify for any of these programs.