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A Great LOAN OPTION for 1st Time Homebuyers in 2020....

A Great LOAN for 1st Time Homebuyers in 2020....

For ALL your Real Estate needs, and then some…
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JUMBO RATE REDUCER OPTION is not available with all lenders, so find a bank which offers it.  This is an opportunity to help buyers purchase a home with lower interest rates in the future.  The benefits include:

  • Low down payment - you can pay as little down as 10.01% - 14.99% (a loan to value ratio of 85.01% - 89.99%)
  • Lower rate - you can reduce your interest rate by .25% when you make a principal payment that lowers your loan to income value to 80% or below (within 180 days of your loan closing)
  • Lower your payment - your interest rate is reduced and your mortgage rate is recalculated on your monthly payment based on the reduced principal balance and reduced interest rate - without refinancing.
  • No mortgage insurance is required - with this low down payment (versus a standard 20% down payment requirement).
In addition to the benefits received with the Jumbo Rate Reducer Option, there are a couple of pre-requisites.  Eligibility is based on the loan amount, type of property, and the type of loan.  Each customer has a different need.  So don't disqualify yourself based on anyone's report.  Everyone has their own set of variables.  Find out yours.  And if this option doesn't fit, try another.
 
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