Freddie Mac Mortgages
For a borrower seeking to achieve lower monthly payments Freddie Mac has a number of options that can provide the opportunity of home ownership to person’s with a variety of circumstances. You will find in this list, a mortgage that will fit almost any client. Utilizing these options will expand your ability to market a far greater span of clientele.
Affordable Merit Rate Mortgages
The affordable merit rate mortgage provides a variety of options for a homebuyer that may feel limited to high cost financing. Affordable merit rate mortgage offers an incentive rate reduction for on time payments. Borrowers will be given a four year during which they can take advantage of one percent interest rate reduction if they make 24 consecutive payments on time.
Alt 97 Mortgage
For a borrower that has worked hard to build and maintain their credit, than Alt 97 may be very useful. Alt 97 is designed to help out the borrower who has good credit but very little down payment cash. With Alt 97 the borrower can have as little as a 5% down payment to qualify.
Loan prospector A-minus mortgage allows you to expand potential mortgages to a wider market of borrowers including individuals with past credit problems. A-minus mortgage allows for a variety of down payment options and rates.
Guaranteed Rural Housing Mortgages
With a guaranteed rural housing mortgage you can extend your professional reach to underserved rural properties. GRH can benefit the borrower who has the needed income and credit but cannot come up with a conventional down payment.
Home Possible 97 Mortgages
This mortgage plan offers flexibility on all scores. It is a likely fit for first time home buyers, retirees, recent immigrants, low income buyers and more. This is a well rounded and highly flexible mortgage plan.
HUD-Guaranteed Section 184 Native American Mortgages
This mortgage allows you to expand your borrowers market to include Native Americans as well as natives of Alaska and more guaranteed through HUD.
Mortgages on manufactured homes are a great way to expand the borrower’s ability to purchase a home they can afford. Find out how you can take advantage of this greatly underused market. These mortgages are written in a way that protects the home buyer from becoming involved in a mortgage that they cannot maintain.
Rural Housing Service Section 502 Leveraged Seconds
You can aid low – income borrowers to find a mortgage that will work for them. Rural housing service section 502 provides home ownership opportunities to persons who have good credit but may not have the income or down payment to support a conventional mortgage.
Veterans Affairs (VA) Mortgages
Extend your mortgage eligibility even further with mortgages designed to benefit veterans. These mortgages provide improved options for veterans seeking homeownership.