Loan Options For Borrowers and First Time Home Buyers

Are you fully educated on what loan options are available to you? Are you working with a lender who can provide all of those options to you? There are many types of ARMs, niche programs, and even some stated income programs still available for self employed borrowers who are taking full advantage of the tax benefits but as a result show a low net income on their tax returns. Yes, there are still programs for them too although hard to find. Just think how many more qualified buyers there would be if they knew about those programs. I have attached a loan options grid for your reference. You should become very familiar with these options BEFORE going any further. This information is important for all potential buyers to read regardless as to who they use for financing. It will help better prepare you for the conversations they will soon have with a loan officer and make you more "street smart" in the area of home finance. YOUR LOAN PROGRAM OPTIONS

Dream Home Financing - Free Rate Quotes - Stated Income Loans in New Jersey NJ

What costs are associated with a loan?

Many borrowers wonder what the costs are OR if they can get a no cost loan. The first thing you should know is that there is no such thing as a NO COST LOAN. There are costs but the question is whether you pay those costs seperately or if you have them added to your loan thus increasing your interest rate. It may not matter which option you choose just as long as YOU are choosing and not your lender. For a list of basic costs, go to www.dreamhomefinancing.com and click on "CLOSING COSTS" .