A loan is considered a 1st time homebuyer loan when it has one or more features that are available only to 1st time homebuyers. For example, a lender may reduce its interest rate (typically by one eighth to one quarter of one percent), reduce or eliminate its closing costs and, if an adjustable rate mortgage, reduce its margin (typicaly by one quarter of one percent). Such a loan may also have less stringent loan qualification guidelines. You are going to be a 1st time homebuyer sometime. Don’t wait any longer.
Apply today and have a real Loan Pre-Approval Letter faxed or mailed to you within 1-4 days. That's right a Pre-Approval Letter that let's your Seller &
Realtor know that you are pre-approved with one of our lenders not just
pre-qualified.
Mortgage Consultant with Charles Rutenberg Financial Services