Need a great first time home buyer program? Our Great Start Loan provides an initial interest rate of 3.75% with the stability of a fixed rate. Loan Type: Owner occupied purchase only. Borrowers must not have owned a home for 5 years or longer. Loan Term: 30 Year fixed only Maximum Loan Amount: $417,000 Property Type: Detached and Attached single family residences, 2 Units. No manufactured homes Interest Rate: 20% Down 3.75% first 2 years then 5.75% for the remaining term (5.504 apr) Here's how the program works: Sales Price: $300,000 Down Payment: $60,000 Loan Amount: 240,000 @ 3.75% = $1,111.47 principal and interest * taxes and insurance not included Loan costs: 1% plus third party costs Combine with the new $8,000 first time home buyer tax credit for additional savings.
15% Down 4.75% first 2 years then 6.25% for the remaining term (5.991 apr)
Payment year 2-28 = $1,348.76 principal and interest * taxes and insurance not included
Kevin Tinsley
All Tech Mortgage.com
Tacoma's #1 Mortgage Expert
FHA | VA | Conventional Mortgage Options
7403 Lakewood Dr W, STE 2
Lakewood, WA 98499
(253) 472-1500 Office
(800) 339-7059 Toll Free
(866) 421-1788 Fax
kevin@alltechmortgage.com
www.alltechmortgage.com
Very helpful to home buyers!