Category Archives: Residential Lending

Residential Lending Posts

First Time Home Buyer Down Payment Assistance

First Time Home Buyer Down Payment Assistance

Looking for a First Time Home Buyer Down Payment Assistance Program? 

The good news is that we have programs that allow you to put zero down. That's right, 100% financing for the purchase of your new home.

For many first time buyers, the down payment is the biggest barrier to buying their first home. It is the number one reason that most new home buyers are waiting.

With rents on the rise and low mortgage rates, today's home buyers are finding that it makes a lot more sense to buy than rent. 

I know you are aware of the obvious advantages of home ownership. But, let's focus on just the financial aspect for now.

The most recent economic forecasts predict that rents will continue to rise in the majority of the largest cities in the nation over the next year.

If you purchase a home and take out a thirty year fixed mortgage, that will lock in your housing payment for the next thirty years!

First Time Home Buyer Down Payment

Do you think your rent would stay the same for thirty years? Of course not.

So, you do have the ability to fix and stabilize the largest part of your monthly housing payment for the next thirty years.

Sure your property taxes and homeowners insurance can go up a little, but the monthly principal and interest payment will not.

Plus, your property value will increase over time so you will build equity. Your income should increase and with a fixed monthly mortgage payment and your monthly housing expenses will become more affordable by owning your home.

Unlike the big banks, we offer these first time home buyer down payment assistance programs. We have specialized in these types of loans since 1991.

In most cases, we are able to work with you and the seller to structure these purchase transactions so that you have to put nothing down and have very little in other costs.

Are you ready to find out how our programs can help you afford a new home?

Call 800-607-1941 x220

Posted by: Brian Bush

first time home buyer down payment assistanceBrian and his team have been funding Home Loans for over 25 years.
Since 1991, they have funded over 2,000 loans

You can reach Brian at 800-607-1941 x220 or bbush@slglends.com

Mortgage Programs That Allow A First Time Home Buyer With Bad Credit

Mortgage Programs That Allow A First Time Home Buyer With Bad Credit

Are you looking to make your first home purchase, but worried that your credit may stop you?   Well, you are not alone. You are not the only first time home buyer with bad credit. Most new homeowners using our loan programs have had some credit issues. Reduced credit requirements (lower credit scores allowed, smallerContinue Reading

3 Big Improvements To Rental Property Loans

3 Big Improvements To Rental Property Loans

How These Loans Just Got Better If you are a real estate investor, you probably know that getting the right financing for your rental property can be difficult. Banks and other lenders typically see these as riskier loans so they create tighter guidelines to minimize their risk. If you look at historical loan default andContinue Reading

How To Get A Mortgage With Bad Credit

How To Get A Mortgage With Bad Credit

So really, what you need is a good mortgage program that allows bad credit, not a bad credit mortgage program. DId you know that recent changes made by major mortgage lending institutions have made qualifying for a mortgage with bad credit easier than it has been in years? Acceptable credit scores are now lower andContinue Reading

The 3 Things You Need To Know About The Lowest Mortgage Rates

The 3 Things You Need To Know About The Lowest Mortgage Rates

Sure mortgage rates are quoted everywhere, but what you don’t know about what is behind the quoted rates could hurt you. By law, the Annual Percentage Rate (APR) must be disclosed and this is a common and simple way of comparing one lender’s mortgage rate quote to another’s. The APR is supposed to factor inContinue Reading

Why Every Purchase Offer Should Include A DU Mortgage Pre Approval

Why Every Purchase Offer Should Include A DU Mortgage Pre Approval

Getting A Mortgage Pre Approval Are purchase offers still submitted with a Pre-Qualification letter and not an actual Mortgage Pre Approval? I hope not. There is no good reason for a buyer or buyer’s agent not to submit a Pre-Approval, at least a copy of a Fannie Mae Desktop Underwriter (DU) approval. You probably see DU approvals, butContinue Reading

3 New Changes Make It Easier To Get A Home Loan

3 New Changes Make It Easier To Get A Home Loan

In recent months, the credit market for mortgage loans has seen some dramatic changes for the better. After years of extremely tight underwriting and risk avoidance by major banks, there are new loan programs that allow more flexibility. This means more loan approvals for today's home buyers and current homeowners seeking to refinance. The newContinue Reading

The 5 Qualifying Factors All Mortgage Lenders Consider

The 5 Qualifying Factors All Mortgage Lenders Consider

When qualifying for a home loan, lenders focus on five main areas of the application. Although each lender may have its own preferences, they all have very clear written guidelines as to what they will and will not accept in these areas. The five main qualifying factors are Credit, Income, Employment, Savings History/Reserves and Collateral.Continue Reading

Updated Credit Requirements

Updated Credit Requirements

Mortgage lenders establish minimum credit scores as part of their program guidelines. If an applicant has a credit score lower than what is required, that will usually mean the loan request will be denied, regardless of how strong the rest of the application is. Click to see today's rates These credit guidelines also establish rulesContinue Reading

How Much Income You Need To Qualify For A Home Loan

How Much Income You Need To Qualify For A Home Loan

All government, conventional and jumbo loan program guidelines require that the borrower have the ability to repay the loan. Income qualification is one of the five main home loan qualifying factors. Click to see today's rates Underwriters, who work for lenders as the decision makers when it comes to approving or denying loan applications willContinue Reading