First Time Home Buyer Mortgage Programs in Summerville SC with Homefront Mortgages

Home loans are available for people with less than perfect credit.

Buying a home for the first time might be easier than you think.  The professionals at Homefront Mortgages can analyze your credit and find the best loan product with the lowest rates for your needs.

If you are a first time home buyer, you probably feel that getting a mortgage may not be possible for various reasons.  One reason is that your credit score is too low.  Most people will be surprised to find out that there are many lenders that have programs for less than perfect credit.  In general, the lower the credit score, the higher the interest rate may be.  However, there are generally cut off lines where the rates will change and each lender has a different threshold.  Homefront Mortgages  will do a free analysis of your overall situation and recommend the different lending programs and lenders that can fit your needs.

The next issue is getting the amount of money needed for a down payment.  Conventional mortgage programs require 20% down of the purchase price.  However, there are government backed loan programs like FHA Loans, or USDA loans that can lower the amount down you need for a loan.  Most FHA loans only require 3.5% down.  Some USDA loans may offer no money down options.  Each of these programs has their limitations and may have unique qualifications.  However, they are specifically designed for first time home buyers.  Homefront Mortgages can help a first time home buyer get the loan that best fits their needs.

When you are thinking about buying a home for the first time, there are many factors to consider.  The factors include; the cost of renting versus owning, tax considerations, and quality of living circumstances.  It is important to remember when making this decision, that even if you get a loan that has a higher interest rate that you would like, it may be the right tool to help you get into a house.  You can then refinance the loan later once your credit improves.  Meanwhile you may be building equity in a property rather than paying for the equity for your landlord.  The professionals at Homefront Mortgages can discuss all of the options with you and help you make an educated decision before you even start to shop for a house.

If you are thinking of buying a house for the first time, contact Homefront Mortgages and let the professionals help you make probably one the most important decisions in your life. Click here for a Free Consultation or call (843) 261-6181 before you shop.