Specializing in Down Payment Assistance
This site was written by a Mortgage Banker that specializes in First Time Home Buyers Programs and is sensitive to First Time Home Buyers circumstances. We have access to many different loan programs that include USDA/Rural Development 100% Financing, VA 100% Financing for Veterans, and FHA mortgage loans and Conventional mortgage loans that are coupled with Federal and State Down Payment Assistance programs throughout the entire southeast.
As of now, all Down Payment Assistance programs require the Buyer/Borrower to have at least $1000 of their own money into the transaction. This can be in the form of an Appraisal and/or Earnest Money Deposit on the house. Most Down Payment Assistance programs require that the first mortgage be an FHA mortgage and the second mortgage will usually be an Interest –Free Down Payment Assistance 2nd mortgage. In some state programs, there will be interest accrued on the down payment funds. Your Loan Officer will clarify each program that you can be qualified for.
USDA and VA Financing do not require any money down on their mortgages, but generally speaking, the Buyer usually pays for an Appraisal and possibly a home inspection.
Some of the Down Payment Assistance programs will be in the form of Grants and some will be interest free loans where no payments are due until the Borrower either sells or refinances the property. Other programs will require the down payment assistance to be paid back in monthly installments.
None of those loans would have any type of pre-payment penalty and all loan products will be fully explained by a highly trained Loan Officer. We also offer diversified loan products such as Jumbo Mortgages, No Closing Cost refinance alternatives, Conventional mortgage loans with as little as 5% down Payment and our ever popular FHA Loans using as little as 3.5% down or 5% down Fannie Mae Homepath loan products
We’ll be happy to answer any mortgage questions that you may have, please don’t hesitate calling us if we can help you with any of your mortgage loan needs!
Seeking financing can be incredibly stressful. We strive to provide ACCURATE information for you to make an educated decision. This website is continuously updated, but due to the overwhelming amount of program guidelines and the fluid nature program changes, its best to speak directly with one of our Loan Officers to make sure your circumstances and expectations are in line with current guidelines.