My Community 97




The My Community Mortgage may be ideal if...

   1.  You have limited funds for a down payment and closing costs.
   2.  You have non-traditional credit and/or income sources
   3.  You are looking to buy your first home
   4.  You are an educational institution employee, police officer, firefighter, or healthcare worker
   5.  You are disabled
   6.  You are looking for higher debt ratios than an FHA Loan wil allow
Whether you're buying a home for the first time, or you've purchased a home in the past, My Community Mortgage offers you an affordable option. It is especially designed for potential homebuyers who cannot meet the strict income and credit requirements, down payment and closing costs of a more conventional home loan.

  •    Down payment may be borrowed
  •    Up to 97% financing - one loan   (Owner-Occupied property only)
  •    Seller can pay closing costs  -  Up to 6%
  •    Gift money can pay closing costs and 3% down payment  -  (Family member only)
  •    Credit score driven for lending LTV qualification
  •    Up to a 40-year term
  •    NO  minimum borrower contribution
  •    NO  cash reserves required
  •    Nontraditional credit allowed (only need three lines of credit verified) i.e.. rent, utilities,cell phone
  •    Not just for the first time homebuyer
  •    Available for purchases and rate and term refinances  (No cash-out)
  •    Choose a fixed rate or an ARM if you don't plan on being in the home for long
  •    40 Yr fixed, 30 Yr fixed, 5/1, 7/1 or 10/1 arm available
  •    Borrowers must be at or below median area income limits to qualify 
  •    Maximum loan amount - $417,000

Our Real Estate Services are free of charge to the homebuyer. The seller of the property pays our fee and we represent your fiduciary interests in the entire transaction. Our Mortgage Services are at the best rates and fees in the area because of our one stop shopping concept. Call today at 817-690-9296 for more information.

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