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First Time Home Buyers!
FIRST TIME HOMEBUYERS' PROGRAMS
First Interstate Financial Corporation is a Licensed Mortgage Bank located in Shrewsbury, New Jersey. We specialize in first time home buyer programs for home buyers with different credit, income, asset and debt situations. Our programs are designed for people who have little or no down payment money, only a strong desire for home ownership.
We offer a specialized program called The Nehemiah Program. This program exists for a very simple purpose: helping people become homeowners. The Nehemiah Program provides gift funds for down payment and closing costs to qualified buyers using an eligible loan, such as FHA or conventional loan programs. There is NO repayment. It's that simple.
FOLLOWING ARE THE FIRST TIME HOMEBUYERS' PROGRAMS THAT WE OFFER:
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F.H.A. - Most often the best choice in first time home buyer programs. Only a 3% down payment is required, all of which can be a gift. Your closing costs can be paid by the seller.
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Pick a Payment Loan - The 97% L.T.V. requires only 1% of your own funds. The remaining 2% may be either a gift or a loan with your closing costs paid by the seller.
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V.A. Loans - For veterans and members of the National Guard 0% down with loans up to $240,000.
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Blend Mortgages - You only need 5% of your own funds. Closing costs can be a gift or some can be paid by the seller. This is a blend of a 1st and 2nd mortgage. There is no mortgage insurance with this low down payment program.
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Stabilizer Plan - 5% down to $322,000 with a credit score of 575. Great for people with less than perfect credit.
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80/20 - No money down combination program of a 1st and 2nd mortgage.
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No Doc Programs - There are many programs in this category that could fit your needs. With some programs you do not even need a job. Also, great for self-employed people.
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95 N.I.N.A. - These programs offer you no income or asset checks and in some cases no job check with just 5% down.
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Zero Down Mortgages - A good program for someone with great credit but lacks the abiity to make a down payment.
If you would like to learn more about our programs, or just find out if home buying is right for you, feel free to contact me. For a free phone consultation, please contact Bill Green at (732) 389-9898 ext. 117 to see what loan program is right for you.
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