Blogs & Special Events

June 1, 2016

yourFirst Mortgage

One of our preferred lenders, Wells Fargo, has just announced a new home loan program that offers a down payment of as little as 3% for fixed rate mortgages, lower out-of-pocket costs, expanded credit criteria and incentives for home buyer education to help more 1st time home  buyers and low to moderate income families achieve sustainable home ownership.

Wells-Fargo-Logo

This is great news for all Millennials!  Lets face it, most millennials are not savers, so the idea of them saving enough money to be able to put 10% down on a new home just isn’t realistic.  That is why Wells Fargo along with Fannie Mae came up with yourFirst Mortgage.

Here are a few highlights about this new mortgage opportunity:

  • You can get a conventional mortgage with a down payment as low as 3%.
  • You can use down payment and closing cost sources like gift funds and down payment assistant programs.
  • You can qualify with income from rentals or from someone who lives with you but isn’t a borrower.
  • You can show credit history from sources like rent, tuition, and utility payments.
  • By taking homebuyer education, you may qualify for an interest rate reduction if your down payment is less than 10%.

 

For more information on yourFirst Mortgage, Click Here.

Ginny Moore

About Ginny Moore

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