Mortgage Benefits for First Time Home Buyers - Drew mortgage

Introduction ● ● ● ● ● ●

The year 2020 was challenging for the world.

The real estate market of the USA saw a change in buying behavior.

Many people with savings and experience in home buying invested in real estate.

Many first time home buyers took a break due to the covid-19 scenario.

They were looking for a clear picture and advantages of First time home buyer programs MA. In this presentation, Drew Mortgage has shared a list of benefits the FTHB enjoys in Massachusetts.

FHA LOANS ● ● ● ● ● ●

FHA Loans or Federal Housing Administration Loans are mortgages insured by the U.S. Department of Housing and Urban Development.

This loan benefits first-time home buyers with lower credit scores and down payments.

The down payment widely depends on the credit score.

If your credit score is good, the down payment percentage can be less, and the loan amount can be more.

FHA Loans are one of the most applied loans amongst the first time home buyer programs MA. It is a national level FTHB program available across the USA.

USDA LOANS ● ● ● ● ●

The U.S. Department Of Agriculture provides USDA Loans to encourage homeownership in rural and suburban areas The loan offers zero down payment mortgages to moderate or low-income group home buyers.

To qualify for a USDA rural development home loan, a borrower must meet income, credit, and employment requirements and be a US citizen.

The property you are willing to buy must be located in a rural or suburban area.

The applicant does not compulsorily need to be the first time home owner to be eligible for USDA Loans.

VA LOANS ● ● ● ●

The U.S. Department of Veterans Affairs provides home loans to eligible veterans, military members, and their surviving spouses.

The interest rates are competitive and, in most cases, do not require mortgage insurance or down payment.

The Credit score is not officially declared. However, VA lenders consider a good credit score a critical aspect of getting approval for VA loans.

First time home buyer programs MA, benefiting a large number of military officials & their families.

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FTHB loans turn out as a way better option than the standard loan options.

If you need an expert by your side, connect to Drew Mortgage.

Drew Mortgage Associates, Inc. is one of the best mortgage lenders in Massachusetts.

Our consultants can provide you with FTHB mortgage loans and loan refinancing services.

We are one of the most preferred Massachusetts mortgage companies.

Our consultant can help you the best for FTHB loans. Feel free to contact us today!

DREW MORTGAGE BRANCH OFFICES:

Drew Mortgage Associates 196 Boston Turnpike Road, Shrewsbury, MA 01545 Phone: (508) 753-1656

Peabody Mortgage Lenders

Boston Mortgage Lenders

1 Mt Pleasant Drive Peabody, MA 01960

232 Commercial St.Boston, MA 02109

Phone : (978) 750-1080

Phone : (617) 523-3060