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Here is a list of current home loans if you plan on purchasing a home.
Here are some current loans available if you are looking to purchase a home
FIRST TIME BUYERS tend to be highly sought after. There tends to be a variety of programs available to serve them.
OHFA-- Oklahoma Housing Finance Authority provides low to moderate income families first time home buyer assistance.
They will provide the FHA required 3.5% down payment to a client, subject to availability, income limits 1-2 family $58,500 annual income.
3 or more $67,276 in the major surrounding counties. Sales Price limit $189,682. The bond loan does have a 9 year recapture tax, and may
have a pre-payment penalty.
Community Action will provide a grant for the down payment ranging between $2,500-$3,500. Income limits of $37,450 for a family of 2,
$46,800 for a family of 4. There are limits per the number in the family. This programs tends to fit lower income buyers, but is a better
program than the bond loan.
RD Lending--Rural Development is eligible properties in a rural area. Income limits of $73,600 for a family of 1-4. If the property is located in a
population area of 3,500 population or less. The program allows for Zero down payment, no monthly MI. Requires a 3.5% loan guaranty fee, financed.
No in ground pools or excessive out buildings. The property to determined to be eligible based upon the local Rural Development office.
We forward the address of the property to rural development to determine eligibility. You do not have to be a first time buyer.
HUD-184--Native American Lending is available to any Native American that has a CDIB Card and a Native American Enrollment Verification.
The required down payment is 2.25% with a 1% financed loan guaranty fee. You do not have to be a first time buyer.
INVESTORS:FNMA (Fannie Mae) will allow investors to purchase residential investment properties up to four units financed. However, First Mortgage Company has the ability to portfolio investment loans up to a maximum of 10 units financed.
Chris Sonaggera Realtor®
Paradigm AdvantEdge Realty West
EdmondGolfHomes.com
[email protected]
405-823-7330
#152751
Here are some current loans available if you are looking to purchase a home
FIRST TIME BUYERS tend to be highly sought after. There tends to be a variety of programs available to serve them.
OHFA-- Oklahoma Housing Finance Authority provides low to moderate income families first time home buyer assistance.
They will provide the FHA required 3.5% down payment to a client, subject to availability, income limits 1-2 family $58,500 annual income.
3 or more $67,276 in the major surrounding counties. Sales Price limit $189,682. The bond loan does have a 9 year recapture tax, and may
have a pre-payment penalty.
Community Action will provide a grant for the down payment ranging between $2,500-$3,500. Income limits of $37,450 for a family of 2,
$46,800 for a family of 4. There are limits per the number in the family. This programs tends to fit lower income buyers, but is a better
program than the bond loan.
RD Lending--Rural Development is eligible properties in a rural area. Income limits of $73,600 for a family of 1-4. If the property is located in a
population area of 3,500 population or less. The program allows for Zero down payment, no monthly MI. Requires a 3.5% loan guaranty fee, financed.
No in ground pools or excessive out buildings. The property to determined to be eligible based upon the local Rural Development office.
We forward the address of the property to rural development to determine eligibility. You do not have to be a first time buyer.
HUD-184--Native American Lending is available to any Native American that has a CDIB Card and a Native American Enrollment Verification.
The required down payment is 2.25% with a 1% financed loan guaranty fee. You do not have to be a first time buyer.
INVESTORS:FNMA (Fannie Mae) will allow investors to purchase residential investment properties up to four units financed. However, First Mortgage Company has the ability to portfolio investment loans up to a maximum of 10 units financed.
Chris Sonaggera Realtor®
Paradigm AdvantEdge Realty West
EdmondGolfHomes.com
[email protected]
405-823-7330
#152751
