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Don LaPlume

First Time Home Buyers Can Buy Today!

Wednesday, February 22, 2012 - Article by: Don LaPlume - Emery Federal Credit Union - Message

Many would be First Time Homebuyer's don't believe they qualify to buy!

Did you know that almost 70 percent of the potential first time home buyers we interview qualify to buy a home on day one? Today I'd like to share 3 very important types of mortgages for would be home buyers in today's market.If you are a First Time Home buyer or someone who has not purchased a home in the last 3 years you need to know about these 3 types of loans.USDA Rural Development loans allow a home buyer to purchase a new home with zero money down, a credit score as low as 620, no open active credit accounts and they will allow your total debt to go up to 45% of your gross monthly income.VA Mortgages allow qualified Veterans of our US Armed Forces to buy a home with zero money down, a credit score as low as a 620 and for your total monthly debt payments including the home costs to reach 50% of your gross monthly income.FHA Home Loans allow buyers to purchase a home with a credit score as low as 600, total monthly debt payments including the home costs of up to 50% of your gross monthly income and you only need to put down 3.5% of the purchase price. This can even be a gift in most cases.Please note there are other criteria to watch for and the rules are always changing but these are the key criteria based on underwriting guidelines of February 19, 2012.For more information on these 3 great loans check out our free home buyer university at or you can reach me at 603-543-3700 ext 1. My email is'd like to leave you with a quote from Walt Disney, "All your dreams can come true if you have the courage to pursue them"Wishing you all my best,Don LaPlume.</object>

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