As the home market continues to go higher and higher, more buyers are getting into the action. While first time home buyers may feel a bit of apprehension at taking the plunge, there are some firms out there that are especially helpful. We at MortgageDepot walk our first time home buyers through the entire process and makes sure that they are extremely comfortable before the purchase. Furthermore, we offer an incredible 3.5% down payment option to purchase a home.
Imagine, purchasing your own house with only 3.5% of the cash. The most important criteria is that your credit score must be above 580. Most home buyers that have been making regular credit card payments and do not have any bankruptcies should easily clear that hurdle. Home buyers with a 550 credit score can still buy a house with 10% down payment.
In addition, there are no restrictions on gift funds and no overlays with DU eligibility. There are also no minimum trade lines.We at MortgageDepot want to help all prospective buyers and is hosting a number of free webinars to educate people. Our dedicated consultants will explain the ins and outs of buying a home. They will explain how financing works and the amazing terms that we can provide. In addition, we will give you an overview of the market and recommendations on things to look out for when making the first purchase.
Overall, rates are extremely favorable for new buyers and the 3.5% down payment offer is exceptional.