Are first-time homebuyers whose high rents left them strapped
for cash.
Have low-to-moderate
incomes and few cash reserves.
Are move-up
buyers looking to buy a larger home without large cash reserves.
Benefits of a Low/No Down Payment Strategy
Even if you already have a nest egg, there are many sound
reasons why choosing a low/no down payment makes sense. A
low/no down payment:
Frees
up cash for other homebuying expenses such as furniture,
moving and closing costs.
Keeps
your assets where they are - in higher-yielding investments
or current lifestyle expenses (day care, tuition payments,
recreational activities).
Potentially
gives you a larger tax deduction*
Lets
you buy right away and start turning rent payments into
equity.
Increases
your current cash flow.
Own Your Dream Home Now!
No need to delay your dream of homeownership! With this wide
array of Western Pacific Mortgage programs for all borrowers
who need down payments as low as 3% or less, you're sure to
find one or more to meet your needs:
No
Money Down Plus Program: Lets all qualified buyers
finance the entire purchase price plus up to 3% of the closing
costs. There are no income restrictions and additional costs
may come from gifts or other sources. This program allows
borrowers with good and average credit to finance 100% of
the purchase price (or appraised value, whichever is lower)
of a new home with no money down. It is a good choice for
buyers whose savings are limited or for those who prefer
to invest their money in other assets.
3%
Solution Program: Gives all qualified buyers the
opportunity of putting only 3% down on a primary residence
and taking advantage of flexible qualifying guidelines.
There are no income restrictions and additional costs may
come from gifts or other sources. First time home buyers
and easily qualify with good to average credit. With 3%
down, the borrower can obtain a larger mortgage which can
translate into a larger home
Easy-to-Own
5% Down loan with 3/2 Option: Allows low-to-moderate
income buyers to use their own funds for 3% of the down
payment and get the remaining 2% as a gift, grant or from
an approved Down Payment Assistance Program. (Limited to
borrowers who fall within HUD median income levels.)
Other
Loan Programs: Other loan programs are available.
Option ARMS, Interest only, and 2/1 buydown programs, etc…
Contact us to tailor a program
that is right for you.
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