Rising rents and home prices make saving for a down payment harder than ever before. Fortunately a new program offers up a solution. Without income or geographic restrictions, both new and existing home buyers have access to this exciting new program at a low fixed interest rate.
I talk to potential home buyers almost every day and the one thing they all seem to be concerned about is how much cash they will need for a down payment. It would make sense to save up so you can get the lowest possible payment. However, with home prices on the rise, waiting 2 or 3 years to buy could mean that the home you are saving for could end up costing 20% more than it was when you started. Skyrocketing rents make saving even more impossible. Until now your only option was to beg borrow and steal for the 3% down needed. Grant money always sounds good until you hear that the funds are already gone or you make too much money to get one.
Fortunately, a new program offers up a solution. Consumers Financial is now offering Down Payment Assistance. This exciting new option allows for 100% financing, fixed FHA interest rates, without income limits! Not a first-time buyer? No Problem! There are no First Time Home buyer restrictions. Easy credit requirements means that more people are able to finance up to 100% of the home. The program is not restricted to any certain area and there are no recapture or prepayment penalties. Now you can move forward and and lock in on today’s prices and low interest rates. Approval is fast and typically takes less than 24 hours from the time you submit your documents.
By Matt Stout, CEO Consumers Financial Mortgage