I recently sat down once again with Karen Johnson of Waterstone Mortgage to discuss another important topic: home financing options.
Waterstone Mortgage actually offers a number of fantastic loan programs for buyers of all circumstances. Take, for instance, the case of a pilot Karen recently worked with. Having saved up quite a bit of money, this particular client was interested in finding a loan program that wouldn’t make too large of a dent into his investment accounts.
With this in mind, Karen was able to offer him 101% financing by combining a first-mortgage loan with 97% financing and an interest-only, 4% financing second mortgage. Better yet, neither of these loans required the client to pay monthly mortgage insurance, despite the financing exceeding 80% of the purchase price.
At the end of the day, this buyer was able to secure his very first home for just $995 out of pocket.
The bottom line is that whatever your wants and needs as a buyer may be, there are plenty of loan programs out for you to choose from, including low down payment and zero-down options.
Whether you’re buying a resale home, a new construction property, or an investment property, you’re sure to find a program that suits your needs.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.