Mortgages that require a low-down payment for first time homebuyers in Asbury Park NJ?

By
Mortgage and Lending with TD Bank 466521

Mortgages that require a low-down payment for first time homebuyers in Asbury Park NJ?

A mortgage that requires a low down payment for first time homebuyers in Asbury Parks is now starting to be standard. Making a smaller down payment does involve some form of mortgage insurance (MI) but not with some program. This is a fee that may be paid to limit the lender's risk when there is a lower down payment when buying your mortgage insurance (MI). 

Our loans are available with as little as 3.5% down payment. The cost of the mortgage insurance maybe paid by the bank depending on the borrower's credit score and location. Borrowers with lower credit scores may be better off with an FHA loan. The disadvantage with FHA loans is that the borrower cannot cancel the MI for an FHA loan. The only way to get out of it is by refinancing into a conventional loan.


It is never a good idea to take up the first loan by the first bank that comes your way. Choosing your bank and then your mortgage plan is a critical factor, and not only does it affect your mortgage application but can also save you a lot of money. Choose a reliable and reputable bank and then go for a loan package that best pertains to your needs and requirements.    

 

A mortgages that requires a low down payment for first time homebuyers in Asbury Parks by Tony Busanich. A loan officer with TD Bank, a lender from Maine to Florida. Whether you’re purchasing or refinancing, we provide straightforward, easy-to-understand products and advice, allowing you to make smart borrowing decisions that meet your needs today and tomorrow. My web site at www.tdbank.com/tonybusanich. Please contact me at 732-306-2231 or by email tony.busanich@td.com 

 

Hope this help.

 

Comments (7)

Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is very good information to share with prospective home buyers.

Take care, be safe and have an outstanding week.

Sep 22, 2020 10:25 AM
Tony Busanich
TD Bank - Freehold, NJ
1-4 RESIDENTIAL FAMILY LOAN SPECIALIST

Thanks Roy for the input, have a great week as well.

Sep 22, 2020 10:30 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Nice to read that there are affordable rates with low downpayments for first-time home buyers in Asbury Park!

Sep 22, 2020 10:48 AM
Tony Busanich
TD Bank - Freehold, NJ
1-4 RESIDENTIAL FAMILY LOAN SPECIALIST

Thanks Larry and Sheila, first-time home-buyers have many options if they do their research and shop for a mortgage with different banks.

Sep 22, 2020 11:23 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

It is astonishing how many buyers don't know that there are low down payment loans available - you just have to keep telling them

Sep 24, 2020 06:30 AM
Tony Busanich
TD Bank - Freehold, NJ
1-4 RESIDENTIAL FAMILY LOAN SPECIALIST

Thank you Lisa for your kind words, I can't agree any more.  

Sep 24, 2020 07:19 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Tony, we do see Buyers that really want to buy, but have not saved enough for a conventional downpayment.  Great post.

Oct 15, 2020 08:15 AM

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