The Real Estate Browser Volume 10, Issue 8 | Page 12

12 — Say you saw it in The Real Estate Browser of Lynchburg — Volume 10 Number 8 www.LynchburgRealEstateBrowser.com Buy Your New Home With No Money Down! By Sherry Brady, Branch Manager, Apex Home Loans, Inc. NMLS #217258 Cell [phone] [email protected] If you haven’t had the time or Loans will provide a $500 lender credit to offset some ability to save up a chunk of money of your closing costs through our “Heroes First” pro- for a down payment, but you’re gram! If you have served your country, on active tired of paying a landlord instead of yourself every month - we have some options for you! There are four loan programs to help you buy a home with NO money down, and two options that only need 1% down payment! If you’re buying in a county then you may be able to qualify for a USDA loan. With this loan, you don’t duty or in the reserves, please call me to see if you’ve earned your entitlement to a VA loan yet. If you can put a small amount down, then you may qualify for a grant through VHDA that will make up most of your required minimum down pay- ment. With the grant program, you may qualify for have to be a first-time buyer, but in most cases, you a 2% or 2.5% grant to help you buy your new home. can not own any other real property. There are a If you have just 1% to put down, and meet all of couple of exceptions to this; for example, if you have VHDA’s income and credit guidelines, then you can been transferred by your employer, then you may be use VHDA’s down payment assistance grant to make allowed to buy a new home without selling the cur- up the remainder of the required three or three and a rent home, but you must also be able to afford both payments. A USDA loan provides 100% financing of the purchase price of the home you’re buying. In some cases (subject to appraised value and credit score), you may also be able to finance some of your closing costs into the loan. If you’re buying a home in the city, then a VHDA half percent down payment required for either Fannie Mae’s conventional 97% loan or FHA’s 96.5% loan. In this case you will not have a second loan to repay, as you would have had with the VHDA Plus loan. The experienced team at Apex Home Loans are experts in these programs and are ready to guide you loan program is the option you need to achieve 100% professionally, ethically, and flawlessly on the path to financing of the purchase price. With VHDA’s Plus home ownership! We’re available evenings and week- 2nd, you’ll have a small second mortgage that can ends - we’re here when you need us. be paired with an FHA loan or a Conventional loan 237-1027, or go online to www.LynchburgLender.com to provide the standard down payment normally today, and let us help you GET MOVING! required for those loans. VHDA loans are subject to income, purchase price and acreage limits. If you’re a Veteran, you may qualify for a VA loan which provides up to 100% financing on both purchase and refinance. Additionally, Apex Home Usah.co/LREB2 Call us at 434- By: Sherry Brady, NMLS #217258. www. LynchburgLender.com, 434-237-1027 Apex Home Loans, NMLS #2884, nmlsconsumer- access.org, Equal Housing Opportunity Usah.co/LREB1