Knowing which type of mortgage loan to apply for as a first-time homebuyer may not be easy. You’ll have to consider personal finance factors, such as available cash, credit score, military affiliation and the type of area in which you live. For example, you may qualify for a VA loan if you’re a veteran, and you may qualify for a USDA loan if you live in a rural area. Both of those loan types do not require a down payment, whereas other loan types do. You may prefer to apply for an FHA loan if your credit score is on the lower end of the spectrum, and you can come up with a down payment of 3.5 percent of the cost of the home. National grants and special Freddy Mac and Fanny Mae programs are available, as well.
We at MortgageDepot want to ensure that you have access to a vast assortment of first-time buyer loan options. We want to make sure you compare rates so that you can get an affordable payment for your mortgage, as well. Our company is in business to put hardworking people into the homes they love and adore. Our mortgage specialists will do everything they can to get you approved for a mortgage so that you can live in your dream house. We can help you find the perfect deal, whether you desire a 15-year mortgage, 30-year mortgage or something else.
Contact us today to start your journey toward homeownership. You can contact us by telephone or complete a short online form to let us know of your interest. One of our dedicated mortgage loan specialists will take your information and help you decide which option is best for you. We’ll help you choose the process that best fits your personal desires and is most likely to produce an approval.
Contact one of our loan consultants to learn more about this program.