Tuesday, April 03, 2007

THIS IS HUGE! Five Grand (free) Available

One of my favorite lenders came to our meeting this morning to tell us about the "Welcome Home Program" his company is sponsoring. For a limited time (probably until mid-May or when the money runs out), down payment assistance up to $5,000 will be available for buyers. A buyer would, of course, still have a passable credit score and there are a couple more requirements:
  • The borrower must owner occupy the home (no investors for renting)
  • Homebuyer education required for first-time homebuyers
  • A portion of the grant may have to be paid back if the home is sold or refinanced in the first five years (ask mortgage consultant for details) (the lender told us this was R.A.R.E.)
  • The borrowers' annual household income cannot exceed $49,280
  • The borrower must have an investment of at least $500 in the transaction (and up to $300 can be a "gift" from a family member)
  • The $500 investment required is waived if the borrower is disabled
  • First come, first served basis - extremely limited.
If you are one iota interested in this, pick up the phone and call immediately because the free five grand won't be around long. I can be reached at (615) 491-2161 and my office number is (615) 459-4040 (ask for Kathy T.).



Post a Comment

<< Home

Add to Technorati Favorites