New Downpayment Assistance Program!

New Downpayment Assistance Program!

image Wright Mortgage has a new program that provides up to 3% in down payment assistance, in the form of a non-repayable grant for FHA, VA and USDA 30-year fixed mortgage loan only. There is no repayment associated with this down payment assistance program.

The grant program may be applied against the borrower s down payment, closing costs and prepaids. This is a regular FHA loan but a new down payment assistance program.

The loan must be a owner-occupied home and the borrower must not own any rental property.

GRANT:

  • 4% DPA- FHA, VA & USDA
  • 3% DPA – Conventional (Fannie & Freddie)
  • Program Requirements Income limits restricted by county
  • Minimum Credit Score: 640 minimum
  • Purchase price maximum Government – $250,200 Conventional – $324

New Downpayment Assistance Program!

image Wright Mortgage has a new program that provides up to 3% in down payment assistance, in the form of a non-repayable grant for FHA, VA and USDA 30-year fixed mortgage loan only. There is no repayment associated with this down payment assistance program.

The grant program may be applied against the borrower s down payment, closing costs and prepaids. This is a regular FHA loan but a new down payment assistance program.

The loan must be a owner-occupied home and the borrower must not own any rental property.

GRANT:

  • 4% DPA- FHA, VA & USDA
  • 3% DPA – Conventional (Fannie & Freddie)
  • Program Requirements Income limits restricted by county
  • Minimum Credit Score: 640 minimum
  • Purchase price maximum Government – $250,200 Conventional – $324

Downpayment Assistance Program!

Negotiate?

There’s no doubt about it – negotiating takes both finesse and confidence. It’s not for everyone, especially those of us who are passive. But when the times comes to purchase a new home and you’re sitting across the table from a home seller, buyers meek and confident alike must be able to hold their own in a negotiation. A skilled realtor can certainly help, depending on what’s on the table. Either way, the cost of backing down too soon could be too much to bear, literally.

  • Closing Costs

Not always negotiable fee-wise, but if the seller can pay them, see that they do. Transferring the cost to the seller will take a hefty up-front expense off of your loan.

  • Points

Buyers can have these point fees transferred to the seller, reducing the cost of the loan. Even when a seller pays these points, the borrower can still deduct them from their taxes.