Nationwide Mortgage Lender
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Property Management
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Mortgage Services
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Mortgage Solutions Tailored for You The first-time home buyer
At SI MTG, we offer a range of mortgage solutions designed to meet your unique financial needs and help you achieve your homeownership dreams. Whether you have stellar credit or need a little assistance, we have the right program for you.
Conventional Loans:
Low Down Payments for High Credit Scores
Conventional Loans are a popular choice for borrowers with a strong credit profile. If you have a FICO score of 700 or higher, you can take advantage of the following benefits:
Low Down Payment:
Put down as little as 0-5%.
Conforming Loan Amounts: Ideal for typical loan amounts that meet Fannie Mae and Freddie Mac guidelines.
With a conventional loan, you can secure a competitive interest rate and flexible terms that fit your budget and lifestyle.
FHA Loans:
Affordable Options for First-Time Homebuyers
The Federal Housing Administration (FHA) Loans are perfect for first-time homebuyers and those with less-than-perfect credit. Key features include:
Low Down Payment:
Only 3.5% required, making homeownership more accessible.
Flexible Credit Requirements:
Easier qualification criteria compared to conventional loans.
FHA loans provide a great opportunity to enter the housing market without needing a large upfront investment.
VA Loans:
No Down Payment for Veterans
VA Loans are exclusively available to veterans, active-duty service members, and certain members of the National Guard and Reserves. Benefits include:
Zero Down Payment:
Finance 100% of your home’s purchase price.
No Private Mortgage Insurance (PMI):
Lower monthly payments without PMI requirements.
VA loans offer an incredible advantage for those who have served our country, making it easier to achieve the dream of homeownership.
CALHFA Programs:
Down Payment Assistance for California Homebuyers
The California Housing Finance Agency (CALHFA) provides several programs to assist with down payments, ensuring that you don’t need to stretch your finances thin. Highlights include
1-3% Down Payment Assistance:
Programs that help cover the down payment when you purchase with an FHA loan.
Dream For All Program:
Contribute up to 20% towards your down payment, significantly reducing your out-of-pocket expenses.
CALHFA programs are designed to make homeownership attainable for a wider range of buyers by providing the financial support you need.
Why Choose SI MTG?
We believe in the power of needs-based selling as the cornerstone of our approach to customer satisfaction. We understand that every client is unique, with specific challenges, objectives, and aspirations. Our commitment is to listen attentively, empathize deeply, and tailor solutions precisely to meet the individual needs of each customer.
Affordable Homeownership Programs: BMR and Down Payment Assistance
At SI MTG, we understand that affordability is a key concern for many homebuyers. That’s why we work with various Below Market Rate (BMR) programs and down payment assistance programs offered by cities to make homeownership more attainable.
What are the Below Market Rate (BMR) Programs?
BMR Programs are designed to provide affordable housing options to low- and moderate-income families. These programs offer homes at prices significantly below market value, ensuring more people can afford to buy in high-cost areas. Key benefits include:
Reduced Purchase Price
Homes are sold at prices below the market rate, making them more affordable.
Income-Based Eligibility
These programs are typically targeted at households earning below a certain income threshold.
Down Payment Assistance Programs
BMR Programs are designed to provide affordable housing options to low- and moderate-income families. These programs offer homes at prices significantly below market value, ensuring more people can afford to buy in high-cost areas. Key benefits include:
Grants and Loans
Financial assistance in the form of grants or low-interest loans that can cover part or all the down payment.
Deferred Payment Options
Some programs offer deferred payments, meaning you don’t have to repay the assistance until you sell or refinance your home.
Examples of City Programse Programs
San Francisco Below Market Rate (BMR) Program
BMR Programs are designed to provide affordable housing options to low- and moderate-income families. These programs offer homes at prices significantly below market value, ensuring more people can afford to buy in high-cost areas. Key benefits include:
Affordable Housing
San Francisco’s BMR program offers homes at prices lower than market rate, with eligibility based on income and household size.
Lottery System
Qualified applicants enter a lottery to purchase BMR units.
Los Angeles Down Payment Assistance Program (LADAP)
Loan Assistance
Provides up to $90,000 in down payment and closing cost assistance for low- and moderate-income first-time homebuyers.
Forgivable Loans
Part of the loan may be forgiven if you stay in the home for a certain period.
San Diego First-Time Homebuyer Program
Deferred Loans
Offers deferred loans up to 17% of the purchase price to assist with down payments.
Income Eligibility
Available to low- and moderate-income families.
How SI MTG Can Help
Navigating BMR and down payment assistance programs can be complex. At SI MTG, we are here to guide you through the process and help you take full advantage of these opportunities. Our services include:
Program Identification
We’ll help you identify which programs you qualify for based on your income and location.
Application Assistance
Our team will assist you in completing the necessary applications and paperwork.
Comprehensive Guidance
From initial consultation to closing, we provide support at every step to ensure a smooth and successful homebuying experience.
Ready to take the next step toward homeownership? Contact SI MTG today and let us guide you to the perfect mortgage solution for your needs!
We are an independent mortgage brokerage licensed through DRE, proudly serving clients since 2007.
DRE#01480904 and NMLS# 300923
Company
Get In touch
- 510-786-8739
- info@simtg.com
- 44840 South Grimmer Blvd Fremont, CA 94538
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