ZEROThe VA and the USDA both offer a zero down loan program for individuals and/or properties that meet their criteria. Sometimes, loans require little or no cash out of pocket. Some HUD properties are available with as little as $100 down.
3%Fannie Mae/Freddie Mac conventional loans are available with down payments as low as 3% on single-family homes, including eligible condos, co-ops, and some manufactured homes. Fixed-rate mortgages with up to 30-year terms and ARMs are available.
3.5%The Federal Housing Administration (or FHA) loan program can allow as little as 3.5% down, and it is more lenient than most other programs on minimum credit scores and other factors.
Are you surprised at how low you may be able to go? While many believe a 20% down payment is required, you can see now that it’s far from the only option.
Whether you’ve saved a little or a lot, reach out today, and we’ll work on finding a loan that works for you.
This Refinance Calculator offers a quick way to see what a refinance could mean for you. Simply plug in the numbers for your current and desired loans, and we’ll calculate the difference in your payments. You may be surprised at the big difference even a small interest rate change can make.
Refinancing isn’t just about monthly savings. A lower rate can help you pay your loan off faster or possibly allow you to access cash from your home’s equity with no change in payment at all. There are many options to pursue.
Anyone interested in buying a home in Dallas, Texas or the surrounding area knows one thing. It’s getting more expensive, inventory is low, and people are still moving here faster than ever. That means besides our existing homes, new home builders are busier than ever. Finding the right realtor and the right home mortgage lender to guide you through the process is important.
In February, new home sales nationwide did better than existing home sales. Newly constructed single family homes rose 6.1 percent from January to February to a seasonally adjusted rate of 592,000 units. The February rate of sales was 12.8 percent higher than the rate of 525,000 units in February 2016. January sales were revised from an original estimate of 555,000 to 558,000.
Some of the tightest markets here in the Dallas/Fort Worth area the past few months have been Mesquite, Garland, Bedford, Hurst and Richardson. Now buyers can expect to be looking even further north and east to find homes into areas such as Anna and Royce City.
With a short supply of homes for sale and an overwhelming amount of new home and existing home shoppers, it’s important to be prepared to act fast. Sublime Financial can help you decide on the best home loan for your needs so you can concentrate on finding the right home. Please contact us today with any questions you may have.
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