Atlanta’s Best New Homes Show recently welcomed Loan Consultant and Originator Jeff Glick with New American Funding. Glick joined this segment of Mortgage Minute sponsored by New American Funding to discuss a 0% down program.
There are several different programs for first-time buyers, but one that New American Funding stands behind is the 0% down program. This program is for buyers who wish to buy a home but are lacking the 3.5% down payment needed for an FHA home loan. If this is the case, borrowers might be eligible for down payment assistance from the Chenoa Fund.
Unlike other programs, there isn’t a list of restrictions in place. This 0% down program offers down payment assistance in the form of a forgivable or repayable second mortgage. There is no first-time homebuyer requirement, so anyone can apply. In addition, non-occupant cosigners are permitted and the borrower is allowed to own other properties. The 0% down program accepts applicants with credit scores as low as 620.
“If you’re putting your own money down on a mortgage, the interest rate is developed by the market so it can change all day long,” said Glick. “Our 0% down program doesn’t fluctuate quite like the market does, but the rates are still historically low with those.”
For more information on what New American Funding is doing to continue business during the pandemic or To learn more on how to take advantage of this 0% down program from New American Funding, contact Jeff Glick at 404-915-6834 or visit www.NewAmericanAtlanta.com. Watch the full Mortgage Minute interview with Glick below.
You can stay up-to-date with New American Funding on Atlanta Real Estate Forum here.