First Time Home Buyers

This is a Super Buyers Market and home prices are reasonable for every income level. Let me help you through the Home Buying Process. I can explain everything in easy to understand terms. I will Pre Qualify you for your maximum loan amount, see if you qualify for any Down Payment Assistance Programs.  Figure out how much the seller can contribute to your closing cost, so you can ask your Buying Realtor to request that in your purchase offer. I can take you thru the Home Loan to the Home Buying Processs easily online thru our E Docs cloud origination System. Do everything from the comfort of your home when you want to. 

Edited October 2011 

FHA Allows home loan Down Payment Assistance ( see 1% Down  page).  Loan approval with poor credit is possible from as low as a 580 FICO.  Loan closing cost that are reasonable.  FHA rates are very low in this Buyers Market. In addition, you do not have to be a first time homebuyer, prior home ownership is allowed.  FHA never allows pre payment penalties, so the borrower can sell or refinance their home at no additional cost.

Quick Guide for FHA Loans

1)  Purchase price loan to value (LTV) is one the highest at 96.5% or 3.5% down payment from the borrower. 

2)  The down payment of 3.5% can be gifted to the borrower by a family member, employer, non-profit organizations and state & local government entities. Making this a "Low Down Payment Loan".  See 1% down page

3)  The Seller can pay closing cost of the borrower up to 6% of the sales price, making this as little out of pocket cost for the Borrower. 

4)  FICO credit scores from the 580 + required.

5)  Cash out refinances up to 85% LTV of the appraised value, even on non FHA loans.

6)  Have an FHA loan now?  There is a FHA streamline refinance, no cash out.  You can refinance the existing loan balance into a lower rate with no appraisal needed. 

7)  Medical collections usually not required to be paid off.

8)  Co-"non-occupant" borrower allowed to help borrower qualify. This is great for parents who want to help their children after they graduate from college.

9) Two months mortgage payments in reserves suggested. Allowable accounts are checking, saving, IRA, 401k, investment accounts, stocks & bonds and cash value in an insurance policy.

Call or E Mail for more info 

480-390-2123  

  MBongiovanni@TheLendingCo.com

 It is a Super Buyers Market, sellers are paying Buyers closing cost, Ask Me How! 

 Fill out to be Contacted by Manny for more info: 

	First Name:* Last Name:* E-Mail:* Phone:* Loan Amount: Loan Purpose: Purchase Refinance Refinance & Cash Out Loan Program: 50 Year Fixed 40 Year Fixed 30 Year Fixed 20 Year Fixed 15 Year Fixed 3/1 ARM 5/1 ARM 7/1 ARM 10/1 ARM Adjustable Interest Only Property Use: Primary Residence Second Home Rental or Investment Property Type: Single Family Condo/Townhouse 2 Units 3 Units 4 Units Other Property Value: Enter Code Shown:* * Required

Rates are Great in this Super Buyers Market