Alternatives to FHA Loans for First-Time Buyers!

By
Real Estate Agent with RE/MAX Suburban

There are alternatives to FHA Loans!

I work with many terrific loan officers that offer my clients many helpful programs to get you into that 97% conventional loansnew home. This is one of those great programs offering a conventional loan with 3% down.

Saving enough funds for a down payment & closing costs is one of the major barriers to home ownership for most first-time buyers.  Fannie Mae has expanded home ownership opportunties for buyers looking to reduce the amount of cash required to get into that home.  Borrowers income, assets, credit scores must meet the program guidelines of course.

What is terrific about this program is that many townhouse or condo subdivisions in our Schaumburg area are no longer FHA appproved. This does funnel down the buyer prospects for that subdivision in a negative way.  Now with this program we can get buyers into purchase in just about all areas.

If you'd like to know more about this program & would like to purchase a home in the Schaumburg area, please email me for more info.

 

 

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lyn sims remax suburban  Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)230-7324
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Topic:
Home Buying
Location:
Illinois Cook County Schaumburg
Tags:
home buying
fha approval for condos

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Rainmaker
460,871
Abby Stiller
REMAX Realty Group - Cape Coral, FL
Professional Bilingual Realtor (239) 284-8637

Hi Lyn Sims You are right about this amazing program and more buyers should be taking advantage of it. The required downpayment is so low and affordable.

Oct 28, 2019 09:18 AM #1
Rainmaker
1,240,846
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

There are so many new and expanded options available for those that find themselves in this home buying/financing market, Lyn Sims ... and that's great news.  It makes it vitally important that buyers find professionals such as yourself that are aware, knowledgeable and experienced in navigating them.  Your post proves that you possess all those traits ...

Gene

 
Nov 14, 2019 07:16 AM #2
Ambassador
3,449,709
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I hear quite often that agents don't want to know or ever discuss loan programs with their clients, Lyn. It is SO important to know what programs are out there, especially when you do have the knowledge that most condo complexes are no longer FHA approved.

Your clients will be glad to know they can still purchase the condo they dreamed of!

Nov 16, 2019 09:38 PM #3
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Rainmaker
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Lyn Sims

Schaumburg IL Real Estate
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