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781-479-4066, vm/fax
781-517-0240, direct |
Kristy M. Bonaventura
Your Neighborhood REALTOR®
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Finance Center
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Zero Down
Loans |
| Coming up with the necessary down payment for a home
loan can be a big hurdle for many would-be home buyers.
Fortunately, there are options available including loans
that require no money down. These loans generally carry
a higher interest rate, but even so, these loans can be
very affordable when you factor in today's overall
rates. |
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No Income
Verification Loans |
| For self-employed buyers and others who have a
difficult time documenting income history, this loan may
be for you. Programs exist for up to 90% financing.
These loans carry a slightly higher interest rate, but
generally speaking, the more information you can
document, the lower the interest rate. There are certain
liquidity requirements typically associated with this
type of program. Even so, it is one of the easiest
programs for many buyers today! |
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FHA and VA
Loans |
The Federal Housing Administration (FHA), offers
loans for low-to-moderate-income home buyers. FHA loans
have low down payments, which typically run around 3
percent, and have relatively easy requirements. FHA
mortgages have no income restrictions and even those
with lower credit scores may be considered. Past
bankruptcy does not necessarily disqualify borrowers
from using this program!
In addition, the Department of Veterans Affairs (VA)
offers a zero-down mortgage program. To take advantage
of this program, borrowers need to be among those listed
as veterans and service personnel in the U.S. military.
One of the biggest benefits of this program is that it
eliminates the need for private mortgage insurance! |
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Adjustable
Rate Loans |
| With a fixed-rate mortgage, the interest rate stays
the same for the life of the loan. But with an
Adjustable Rate Mortgage (ARM), the interest rate
changes periodically, and is typically tied to an index,
and payments go up or down accordingly. Generally
speaking, lenders charge a lower initial interest rate
for the ARM than for the fixed rate mortgage. If you are
expecting interest rates to decrease in the future, or
if you are trying to maximize your purchase power today
knowing your income will rise in the future, then this
loan may be right for you. Also used when you only
expect to be in the home a short time. |
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Find The Ideal
Loan for YOU! |
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Loan Calculator
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Joseph Pagliarulo
IndymacBank
Joe's website
Office:
(781) 245-5803
Cell:
(617) 594-2266
Fax:
(775) 535-7630
Email
Joe |
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Kristy Bonaventura
RE/MAX Heritage
offices in Melrose, Wakefield, Reading
781-979-0100, office • 781-479-4066, vm/fax •
Contact Kristy |
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