There ARE Alternatives to FHA Financing. Ask Me About My "Home Possible" Mortgage Option!

There ARE Alternatives to FHA Financing.

Ask Me About My 

"Home Possible" Mortgage Option!    

     Although FHA perhaps remains the most reliable First-Time Homebuyer Program currently available, it may no longer be the only or best option for certain qualified Borrowers.  
    

     With the current costs of upfront Mortgage Insurance and the increased costs of Annual Mortgage Insurance, I have sought alternative options for my Borrowers in the Conventional Financing environment.  I currently have a great option available for my clients.  

     The chart below shows how I (via APMC) have applied this program ... known as "Home Possible" to the benefit of my clients.  (Freddie Mac's Flexible Underwriting Program)

     Here's where I used this Program ... and why:

                           FHA                               Mortgage                             Home

                                            Insurance                          Possible  

             

     In a nutshell ...

     Borrowers utilizing the "Home Possible" Mortgage Program will find it addressing a broader variety of their needs and offering them more flexible options.  They'll also find that in certain factors, Underwriting Guidelines are more favorable than those offered through FHA.  And generally speaking, Monthly Payments are typically lower when utilizing the "Home Possible" program.  

     The "Home Possible" Mortgage Program also offers: 

• Comparable out-of-pocket costs
• Allows for Borrower's Cash at Closing needs (typically included in a Conventional, Low-Down Payment Program)
• Flexible Down Payment Funds feature  
• Allows for flexible "Cash on Hand" too

     I must add that not all Borrowers qualify for this program.  Nor would their buying scenario, in certain cases.  

     The "Home Possible" Mortgage Program is an option to be considered and weighed, just like other Mortgage Program options ... not a guaranteed loan approval.  Median Income Limits Apply.  This program is NOT for Investors or those who own other Real Estate properties.

     The good news is this:  "Outside the Box" Mortgage financing opportunities DO exist.  The "Home Possible" Mortgage Program is just one example of that fact.  

     Hopeful Home Buyers shouldn't assume that they can't secure financing.  Head to my website.  Pick-up the phone .. email me ... text, etc.  Let's talk soon to discover if home buying and mortgage financing is possible for you ... and when ...

     *  Hoping to Buy, Build, or Refinance a home in New Lenox, another Lincoln-Way Community, Will County, or elsewhere in the Chicago area?  Contact Me Now!  I'll put my 37 years of Mortgage experience and expertise hard to work on your behalf.
     I can be easily reached at:

Direct:  815.524.2280

Cell:  708.921.6331

eFax:  815.524.2281

gmundt@goapmc.com

www.genemundt.com

Click HERE for your FREE Mortgage Consultation!

             

                

Gene Mundt, Mortgage Lender, a Lender with 36 years of mortgage experience, will offer you exemplary mortgage service and advice when seeking:  Conventional, FHA, VA, Jumbo, USDA, and Portfolio Loans in Chicago and the greater Chicagoland region, including:  The Lincoln-Way Area, Will County, (New Lenox, Frankfort, Mokena, Manhattan, Joliet, Shorewood, Crest Hill, Plainfield, Bolingbrook, Romeoville, Naperville, etc.), DuPage County, the City of Chicago, Cook County, and elsewhere within IL.