WOW! When our preferred lender told us about this new program for first-time home buyers, our team was EXCITED! This is a great program that will really help your buyers afford their FIRST HOME in this ever-changing market with NO MONEY DOWN and NO MORTGAGE INSURANCE!
- Primary home, first time homebuyers only
- Zero down payment =100% financing
- NO mortgage insurance/PMI !
- Up to $726,200 loan amount for Portland Metro (starting January 1st)
- 7/6 ARM (this is very good!) or 30-year Fixed
- Applicable for condos, townhomes, and single-family homes
- Interest rate is the same for condos.
- No income limits! This is huge.
- Credit scores as low as 660
- No classes or meeting with a counselor to be eligible.
- Up to 3% in closing costs / prepaids can be paid by seller allowed.
- Did we say no mortgage insurance already? 😊
This program has some great potential and with no mortgage insurance it really helps with purchasing power! Interested in learning more? Reach out to us today and we can make it happen.