Home Purchase
When the housing market is hot, and interest rates are low, there is no reason to rent when many Americans can own their own home for nearly the same cost. There is no reason to wait when rates are this low, when it comes to finding an asset that will build equity through both value appreciation and low monthly payments. At Loan America, we offer special home purchase programs in addition to our normal Fixed Rate, Adjustable Rate and Interest Only mortgage products.
Are You Looking for a Home, but Have no Down Payment?
Surprisingly, many people are in the right position to qualify for new home purchasing without having to put down a down payment. In many instances, you may even be able to qualify for a loan that allows borrowing 100% of the purchase price as well as the closing costs up to 3%. Imagine being able to own your own home with low monthly payments, and literally no money due for down payment at signing.
At Loan America, we offer loan programs for borrowers who are self-employed or who do not have a steady source of income. As long as your credit passes the minimum requirement that we have set, you may qualify showing ‘no income’. In other incidences, such as if income is limited and credit is poor, you may still be able to qualify for a purchasing program that allows for seller credits. These seller credits can be put toward closing costs, as well as providing
down payment assistance for friends and family.
Attractive Loan Products:
* 100% Fixed Loans - These loans are available in 30-year and 15-year fixed loans which allow up to 100% financing.
* 3-Year Interest-Only: These are adjustable rate mortgages which allow low, short term interest rates that have low monthly payments. Borrowers utilizing this product can qualify for up to a 80% first mortgage, and 20% second in order to avoid paying private mortgage insurance.
* 5-Year Interest-Only: These are adjustable rate mortgages which are great for borrowers who want to take advantage of low interest rates in a short term scenario. You may be able to qualify for up to 100% with this loan option!
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