Home Loan
First-Time Home Buyers
At West Atlant, we believe that buying a first home should be an exciting and memorable experience. Our Mortgage Lenders will take the time to explain the steps necessary for home ownership and will patiently answer all of your questions. Purchasing a home can feel like a bunch of big decisions all at once, especially for a first-time homebuyer, but there are several great options available specifically for First-Time homebuyers.
First-Time Home Buyers
HomeReady® by Fannie Mae is an affordable, low down payment mortgage product designed for credit-worthy low- to moderate-income borrowers, with expanded eligibility for funding homes in low-income communities.
- Low down payment; as little as 3% down for home purchases.
- Flexible sources of funds can be used for the down payment and closing costs with no minimum contribution required from the borrower’s own funds.
- Non-occupant borrowers permitted
- Cancellable mortgage insurance (restrictions apply)
- Reduced MI coverage requirement for loan-to-value ratios above 90% (up to 97%)
- Easy-to-use, online Homeownership education course helps buyers get ready to buy a home and be prepared for the responsibilities of homeownership.
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