Title: Types of Home Loans for First-Time Home Buyers
1Different Types of Home Loans for First Time
Buyers
Drew Mortgage Associates
2- Now that you've planned to buy your first home,
the next step is to begin looking for the best
home loan that suits your needs. - With several home loan options available on the
market, it can be difficult for first time home
buyers decide which to choose - Drew Mortgage
Associates can help!
3- To solve this problem, look for different types
of home loans available. - Find a program that suits your financial needs.
4Standard home loan programs have fixed term
lengths and interest rates
No special features
A good credit score is required and approved
documentation
- Conventional Loans or Fixed Rate Loans
5Interest rate changes frequently over the
lifetime of the loan
The interest rate fluctuates monthly or yearly
Popular among buyers who want to enjoy the
advantage of low-interest payments
- Adjustable-Rate Mortgages
6The best loan option for first time home buyers
You dont need a high credit score like a
conventional loan
Suitable for low-income, first time home buyers
7Your home should be 2,000 square feet or less
This home loan can also be used to renovate or
repair a home
It is mainly for low-income home buyers in
economically depressed rural areas
8This loan is specifically for service members and
their surviving families
To qualify for a loan, your home must be the
primary residence
No down payment is required
9- Contact Drew Mortgage Associates, wholl help you
to - Check your credit score
- Choose the right home loan program
- Guide you through the entire home loan
application process
10Read more about which type of home loan is best
for you - https//www.drewmortgage.com/types-of-h
ome-loans-for-first-time-buyers-in-ma-which-one-is
-best-for-you/
11DREW MORTGAGE BRANCH OFFICES
Drew Mortgage Associates 196 Boston Turnpike
Road Shrewsbury, MA 01545 Phone
508-753-1656 Website https//www.drewmortgage.com
/
Peabody Mortgage Lenders 1 Mt Pleasant
Drive Peabody, MA 01960 Phone (978) 750-1080
Boston Mortgage Lenders 232 Commercial St Boston,
MA 02109 Phone (617) 523-3060