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Traditions mortgage—port saint lucie mortgage—port saint lucie mortgages

First Time Home Buyer Programs

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First Time Home Buyer Loans are offered in an effort to help the buyer purchase a home with little or no money down. Our First Time Home buyer loans are not subsidized by State agencies and therefore require no penalties for future increases in borrower income or the sale of the property secured by the mortgage.

PRMI’s Home Possible Loan

 

Home Possible is a 100% financing product targeted towards lower to middle income families that may have had some tarnished credit.

            

Teachers, Healthcare workers, Firefighters, Law Enforcement Officers and Military Personnel are great candidates for this loan. It is ideal for:

 

             ● First Time Home Buyers

             ● Retirees or New Immigrants purchasing in “Underserved Areas”

             ● Need Credit Flexibility (non—traditional credit allowed)

             ● Have Blemished Credit or No Credit scores

             ● Lack cash for down payment or closings

             ● Need 100% Financing

             ● Have low or moderate Income

             ● Have boarder income from Non Family members

             ● Receive Income from Government benefits

             ● Need more flexible lending guidelines

 

Fannie Mae 100 or 103 Programs

 

These programs are conventional financing programs with low fixed rates and can provide money for closing costs as well as allow sellers to contribute to closing costs. They do NOT carry any pre payment penalties.

 

Applicants need average credit and a two year job history. Usually only $500 is required from the borrower’s own funds for the transaction.

 

Call me with specific questions—I can help!