Fannie Mae is now offering MyCommunity, a loan that will finance 100% of a home. It is a first time homebuyers program aimed at people with lower credit scores and higher debt ratios. This program loves assets and dislikes derogatory accounts.
It is primarily for purchases. To give you an idea of the efficacy of this program you really only need a 600 score to qualify for 100% financing between 6.75-7.5%. Now is the perfect time to buy!
Take these smokin hot rates and combine them with the hundreds of cheap houses on the market right now and you've got yourself one hell of a buyers market.
Call me! Seriously, look into this! You have nothing to lose and everything to gain. Like always I've still got your free credit report and rate quote waiting for you!
Thanks for reading and please only call if you feel you are ready for home ownership, you are interested in finding out more about purchasing a home or about what to expect from the home purchase process.
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