Did you know some zip codes in Utah went up over 15% in value in just 12 months?
If you had bought a house for $250,000 a year ago, it could already be worth $37,500 more today. Ouch. Who doesn’t want $37,500? But you’re probably already painfully aware of how fast Utah house prices are rising. Your question might be more along the lines of “How can I break into Utah’s crazy homeownership club given my salary and my savings account balance?” Well, you start with Homie Loans.
Homie Loans is designed to help first-time homebuyers get their first set of house keys—and enjoy the freedom, tax savings and rising equity that comes with those keys.
Homie Loans does mortgages in a new way.
First, we use technology to streamline and automate much of the process, which means it’s faster and less expensive to get you your loan.
Second, we changed the way loan officers get paid (yep, we took out their commissions), which means you save thousands more.
Third, we developed a broad base of lenders who can offer a variety of loan programs, including options with 0%, 1%, 3%, 3.5%, and 5% down.
Take a quick look at some of these programs. They could make all the difference between buying now or renting another year. You could qualify under one of these and not even know it.
FHA: The Federal Housing Administration guarantees a portion of home loans to make it easier for more people to own a home. With lower credit standards and lower down-payments, FHA loans can help make the dream of homeownership a reality.
VA: The U.S. Department of Veterans Affairs helps service members, veterans and surviving spouses buy homes often requiring no down payment or mortgage insurance.
USDA: Not many people know that the U.S. Department of Agriculture has a homebuyer’s assistance program that targets rural areas and allows 100% financing by offering lenders mortgage guarantees. Talk to a Homie Loans expert to understand the limitations for this program that vary by region.
Fannie and Freddie: Fannie Mae and Freddie Mac are government-sanctioned companies that work with our lenders to offer some appealing mortgage options, like 3% down-payments.
In addition to these national programs, there are state- and local-specific assistance programs for homebuyers. Check the Department of Housing and Urban Development for more information.
It’s a tough market, and we do feel your pain. That’s why we want you explore your options and fill out a home loan app with Homie Loans. We’d love to surprise and delight you with how much financial help is out there for first-time home buyers just like you.
Click here to take advantage of your options with Homie Loans.