If you’re looking to buy property during the Ventura County and have at least a beneficial step 3% down-payment (and that’s present money from a relative), we’re sure we’re your best source for home financing.
Society First-mortgage are a mortgage broker based in Thousand Oaks, California. We have been in business (in identical building!) due to the fact 1986. Becoming a large financial company, loan providers dismiss its costs to help you you that is why we are able to give ideal costs for you than simply for folks who worked with the new exact same lender personally.
Gurus = Have down home loan insurance costs (utilizes credit history), end FHA’s initial charge, and you can financial insurance is not on the lifetime of the loan
- FHA (Federal Houses Government) fund that have as little as 3.5% down.
- Antique funds with as little as step 3 5% off.
- Va (Pros Management) which have only 0% down.
We normally provide FHA fund to help you homebuyers which have fico scores significantly less than 660, have less than an excellent 5% deposit and you can/otherwise with borrowing from the bank affairs because enables a low fee and interest.
Is an illustration (by ) regarding how an FHA financing would lookup based on good $640,000 sales rates, unmarried home, 3.5% down ($twenty two,400), and you will an effective 660 credit history:
$ 2,442 = principal and interest payment based on a rate of 2.375% (rates as of )*** $ 438 = MIP monthly (Mortgage Insurance Premium) $ 667 = Property taxes (paid monthly) $ one hundred = Homeowner’s insurance (estimated) $ 3,647 = total housing payment
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