Securing financing for our customers has changed dramatically in recent years. The number of programs offered has increased for the consumers. A few are:
- Veterans Administration (VA) zero down
- Federal Housing Authority (F.H.A.) 3 ½ down
- Conventional 5% down with private mortgage insurance (PMI)
- Conventional 20% down with no private mortgage insurance
- "80/20" Mortgage first and second mortgage with zero down
- Farmers Home Administration
- New Hampshire Housing Finance Authority (N.H.F.A.)
- Subprime Lending
- Commercial Mortgages
- Multi-Family Mortgages
All their own individual guidelines. We highly recommend that all buyers contact a Mortgage Co. or bank to research these programs and to receive a pre-approval letter before make an offer on a property.
If you have slow credit, prior foreclosure, prior bankruptcy or low credit scores it does not necessary mean you will be denied financing. The subprime mortgage market caters to these issues.