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Mortgage Information for the First Time Homebuyer
Inflation in the United States is increasing rapidly and home
prices are soaring! There are millions of american families that
are unaware of the many mortgage programs that are available for
first time homebuyers.
There are many types of mortgage finance programs available to
first time homebuyers. I will discuss a few of them. VA
Guaranteed mortgages provide 100% financing for veterans that are
active or non active duty with the United States armed forces.
Even though there are closing costs associated with this type of
mortgage, through a properly written sales contract, the closing
costs can be paid by the seller of the property.
FHA Mortgage: FHA mortgages are available to qualified
applicants with little or no credit history, as well as
applicants that might have a few blemishes on their credit
history. FHA mortgages provide 97% financing. In many cases, gift
funds can be used by the borrower(s) to avoid having to make a
down payment.
Conventional Mortgage: There are numerous conventional
mortgage programs available. There are many that provide home
buyers with 100% of the funds they need to buy a home. There are
programs available for borrower(s) with all types of credit
ratings. There are programs for W2 wage earners and self-employed
borrowers. There are even programs for borrowers who have
suffered through past credit woes and wish to get their life back
track and a home for their families.
Be careful when choosing a mortgage company. Interview the
loan officer and research the company to be sure that you have
chosen a reputable company that will work in your families best
interest. Ask your loan officer about fees for his services and
reuest that they provide you with a Good Faith Estimate of
settlement charges.
Buying and owning real estate is a way to build wealth and hep
keep up with escalating home prices. Be smart! Research the
market that you plan to buy a home in. Select a lender that you
feel comfortable with and let him or her help you select a
realtor that will represent your best needs. Visit our website at
www.thebestmortgageguy.com
Glenn Keller is associated with Affordable Home Funding of
whom is a multi-state mortgage company. Glenn has a numerous
amount of years experience in Conventional, FHA and VA lending.
Affordable Home Funding has locations throughout Georgia. Glenn
is located at 1204 Hospitality Ave., Suite E in Kingsland
Georgia. Visit my website at http://www.thebestmortgageguy.com
The content of this article is based on the knowledge and
experience of its author.
 MORE RESOURCES updated Thu. February / 09 / 2012
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