Saving for the down payment and/or closing costs can be one of the biggest hurdles facing 1st time homebuyers. This program combines an FHA 30-year fixed rate loan for 96.5% with a 3% homebuyers assistance silent 2nd loan with no scheduled monthly payments.
The First-time homebuyer restriction can be waived if the borrower is a Qualified Veteran or the primary residence will be in a designated target area.
Some restrictions may apply. 3.25% Simple Interest on silent 2nd. The interest is deferred until the note becomes due and payable, paid in full, refinanced, or if the property is sold or transferred. Contact MoneyIdeas Loans for complete loan details
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