Vanguard Realty Associates

Vanguard Realty Associates


3% Down-Payment Loans Help First Time Homebuyers

Filed under Buying a home, Home Buyers on Jan 02,2015 | Tagged in: , ,

Mortgage Calculator Shows Purchase Of Home Loan

Many first time home buyers can afford the monthly cost of mortgage, but come up short on the cash requirements for a down payment. That may change with the help of new government programs that will offer 3% down-payment loans to qualified borrowers.

Fannie Mae’s My Community Mortgage program, open to first-time buyers with a minimum 620 credit score, has already begun. Freddie Mac’s Home Possible Advantage Program, available to all qualified buyers, begins in March, 2015. A bonus with both programs is that they do not require buyers to pay a Mortgage Insurance Premium. Traditionally, a down payment of less than 20% would require mortgage insurance.

If you’ve been struggling to stash cash toward a down payment, read this article by Alan J. Heavens, published in the Philadelphia Inquirer. Then, contact Vanguard Realty Associates to help you find your perfect first home!

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"I worked with Donna Brun for the past year to sell my home in Cold Point Manor. The real estate market has not be optimal for sellers. I have to share it was a pleasure to work with Donna. Her commitment and honesty were important to me. She cares about the work she does each day which I find so valuable and refreshing in business today. I would highly recommend Donna Brun to help you with your real estate needs." - Scott Passman

Scott Passman


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