The Real Estate Browser Volume 11, Issue 2 - Page 10

10 — Say you saw it in The Real Estate Browser of Lynchburg — Volume 11 Number 2 100% Financing? Yes! We Have That! By Sherry Brady, Branch Manager, Apex Home Loans, Inc. If you’re a first-time homebuyer and haven’t had the opportunity to save much for a down payment NMLS #217258 Cell (434) 238-8984 on a home yet, but want to buy, we have loan options that will help make that dream come true! There are multiple loans we can offer which provide 100% financing of the purchase price of your dream home. USDA loans are excellent loans if you meet the qualifications. They provide financing for 100% of the purchase price. You don’t have to be a first time homebuyer, but you can’t own any other prop- erty after this loan closes, and there are restrictions on where your home can be located. There are also household income limits in order to qualify for this loan. Your lender can determine whether the home you want is in an eligible area and make sure that your credit and income are eligible, but this is an excellent loan option if you qualify for it. VHDA loans can also provide 100% financ- ing using VHDA’s Plus 2nd loan option. This Plus loan can be combined with an FHA loan or a Conventional loan to make up 100% financing of the purchase price. It can be used to buy a home any- where in the state of Virginia, but there are income, sales price, and acreage limits. You must also be a first-time homebuyer to use this program. In addi- tion to the Plus loan program, VHDA also has a grant program which will allow you to buy a home with just 1% down. This loan is the most forgiving of lower credit score, limited credit, and past credit issues. FHA also has a Renovation loan called a 203K. VA loans are specifically for Veterans with qualify- ing service time. A VA loan provides for financing of 100% of the purchase price. If you’re a disabled vet, you are exempt from the funding fee, and a tremen- dous benefit of all VA loans is that there is no month- ly mortgage insurance on this type of Mortgages gen- erally fall into two broad categories: Conventional or Government. Rates remain extremely low, and our housing market is still very active! Are you ready to get preapproved? Whether you need 100% financ- ing, or you’ve been able to save a down payment, we have a loan solution for you! We have virtually every loan program available, so we can help! With Conventional, VA, FHA, USDA, VHDA, Renovation & Construction loan options, Apex’s highly quali- fied and experienced team is ready to help you! Go online to and get to know our team; or call us at 434-237-1027 and let us help you GET MOVING! Apex Home Loans, Inc. NMLS #2884, nmlscon-, Equal Housing Opportunity. By Sherry Brady, NMLS 217258, Branch Manager, Apex Home Loans FHA loans are the least restrictive. There are no income limits, or restrictions on location, but there is a loan limit. For Lynchburg and surround- ing counties, that limit is $314,827. You must have 3.5% down for this loan, but Gift Funds are allowed.