ShareThisMy Clients are Still Getting Mortgage Loans in Spite of the Economy!
Last week I received several calls from buyers wanting to know if my clients were still getting mortgage loans and my answer to them was “yes.” FHA financing is the best way to go for most first-time home buyers. FHA requires that a buyer put 3% of their own funds into the transaction and the seller can contribute up to 6% towards buyers closing costs. The majority of my first-time home buyers have only needed their 3%. I have been successful in getting the rest of the buyers closing costs from sellers or grant programs. The banks my clients have received mortgage loans from are 1st Mariner Bank, Bank of America. K-Bank, and SunTrust Bank. These banks also have programs for first-time home buyers. This is a very good market for buyers- low interest rates, plenty of housing inventory, sellers helping with closing costs, and many grant programs for buyers. Don’t miss your opportunity.
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