Types of Home Loans for First-Time Home Buyers PowerPoint PPT Presentation

presentation player overlay
About This Presentation
Transcript and Presenter's Notes

Title: Types of Home Loans for First-Time Home Buyers


1
Different 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.

4
Standard 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

5
Interest 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

6
The 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
  • FHA Loans

7
Your 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
  • USDA Rural Home Loans

8
This 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
  • VA Home Loans

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

10
Read 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/
11
DREW 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
Write a Comment
User Comments (0)