These mortgage products are designed to help meet a variety of homebuyer needs, including borrowers with credit challenges and borrowers who lack sufficient cash for downpayment
and closing cost requirements.
The contract contained the usual provision that required the downpayment
of ten percent to be made by check subject to collection.
Countrywide's EasyWay loans are part of the company's efforts to assist first-time home buyers and increase homeownership by overcoming downpayment
and other barriers.
SECOND QUARTER 2004 AFFORDABLE PRICE BY INCOME FAMILY INCOME; LOAN AMOUNT; AFFORDABLE PRICE $20,000; $71,600; $89,500 $40,000; $143,100; $178,900 $50,000; $178,900; $233,700 $60,000; $214,700; $268,400 $80,000; $286,300; $357,900 $100,000; $381,900; $477,300 $120,000; $429,400; $536,800 NOTE: This table shows the approximate home price a family earning the specified income could afford making a 20 percent downpayment
, with no more that 25 percent of gross income for principal and interest payments.
More than 99 percent of the nonprofit-assisted downpayments
While many young buyers today can easily afford the monthly carrying costs, scraping together enough money for the downpayment
is often a very big problem.
These programs include Individual Development Accounts, an innovative three-to-one savings matching plan that helps potential homebuyers obtain a downpayment
PMI is in the business of expanding homeownership opportunities by enabling people to purchase homes with low downpayments
BFT has improved its selling practices to include higher downpayments
and electronic funds transfer of monthly payments.
The sale of the Series A Convertible Preferred Stock is expected to take place at the earlier date of either March 1, 2001, or two days before the date on which license downpayments
are due for the auction.
Some features of this product would include employer assistance with downpayments
, closing costs, and interest rate reductions.
25 million available for the downpayment
assistance program, enough to cover downpayments
for approximately 450 homes at an average price of $55,000.
because of the program's key benefits -- low downpayments
MRG Chairman, Blaine Roberts noted, "higher LTV lending programs reflect the fact that home buyers have less savings from which to obtain their downpayments
Called the "Low Down Easy Loan," this adjustable rate mortgage product offers downpayments
as low as 3 percent* and the option to "buy down" or reduce the interest rate and thus the monthly mortgage payments in the first two years of the loan.