We have two financing offers that have proven extremely popular over the last year: a 1% down loan and a program with a $10,000 credit.
I have blogged about them before, but I am bringing them up again as reminders.
1% Down Financing
Our 1% down program is set out in detail here. The rates are low. There is no Private Mortgage Insurance. And the program is pretty much awesome all the way around.
The only catch is that the loan amount is limited to $350,000. BUT – for any borrowers with limited cash and limited budgets – this is probably the best offering available.
$10,000 Credit: Purchase Plus Program
This program simply provides $10,000 of funds to homebuyers without asking for anything in return.
Here is a blog that describes it in more detail. It too almost seems too good to be true but it has its limitations:
- Borrowers must be first-time homebuyers.
- Loan amount cannot exceed the conforming loan limit for the borrower’s area ($766,550 for TX, for example).
- Borrowers must currently reside in specifically designated census tracts (the most significant limitation), but they can purchase anywhere.
Agents should always check to see if their clients live in one of these census tracts, as they have nothing to lose and they can help their clients can get free money.
Please contact any of us at JVM Lending for more information regarding either of these programs.
