Affordale Housing Programs:
Affordable housing programs increase home
ownership possibilities by reducing the necessary
down payment and costs. They are very specific
and usually have some criteria and restrictions
that must be met in order to qualify for
these cost saving programs. Check out some
of the affordable housing progams that we
offer:
First-Time Home Buyers
Credit Mortgage Group has a
wide variety
of mortgage loans created by
national organizations
such as Fannie Mae or Freddie
Mac, as well
as State-Wide bond programs providing
funding
for households that meet certain
income and/or
residential qualifications. These
loans offer
the benefit of a low down payment
and a low
interest rate. If you have good
credit, but
have difficulty with the requirements
of
standard mortgages, ask us about
special
first-time home buyer financing
and education
programs.
Bond Programs
These city, county and state
programs provide
below-market financing to first-time
home
buyers who meet certain income
and purchase
price restrictions. Check with
your Mortgage
Professional to see if bond programs
are
available in your city. Currently,
the following
states offer bond programs: Arizona,
California,
Colorado, Connecticut, Delaware,
District
of Columbia, Florida, Illinois,
Indiana,
Kentucky, Louisiana, Maine, Maryland,
Massachusetts,
Michigan, Minnesota, Mississippi,
Missouri,
Nevada, New Hampshire, New Jersey,
North
Carolina, Ohio, Oregon, Pennsylvania,
Rhode
Island, South Carolina, Tennessee,
Texas,
Vermont, and Virginia.
Mortgage Credit Certificate (MCC)
These federal programs provide
a tax credit
to first-time home buyers who
meet certain
income and purchase price restrictions.
The
credit is based on a portion
of the interest
that is on the mortgage.
Rural Development
This loan program provides rural residents
that meet certain requirements with better
access to affordable housing. It is available
in all states normal for conforming mortgages,
and vary depending on property types and
mortgage amount.
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FHA/VA Mortgages
Jumbo Mortgages
Affordable Housing Program
Construction/Rehab Loans
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| Fixed Rate Mortgages |
With a fixed rate mortgage, you know exactly
what your principal and
interest payment
will be every month. It
won't change because
your interest rate won't
change.
Learn More
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| Adjustable Rate |
Adjustable Rate Mortgages (ARMs) offer a
lower interest rate to
start, so your monthly
payments are generally
lower. But, the interest
rate is adjusted at times,
based on an "index". Learn More
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