Great Beginning

First Time Homebuyer Program

Old Town Mortgage is very proud to offer the exclusive “Great Beginning” program to first time homebuyers. This program is a partnership of Fannie Mae and Neighborhood Housing Services of America

Here are some of the features that make this program unique:

• Flexible Underwriting Guidelines
• 100% combined loan, 80% first loan with a 20% second loan
• Both first loan and second loan have the same competitive interest rate
• No mortgage insurance is required
• 30 year fixed rate, with no prepayment penalty restrictions
• Income allowed up to $ 83,000 + in California
• Loan program good anywhere in California
• Minimum $ 500.00 required from borrower, additional funds can be gift
• Seller of home allowed to pay up to 3% of closing costs
• No additional reserve funds required
• Good credit acceptable, not excellent credit required
• Full income documentation is required for this loan program
• Pre Purchase Counseling required, arranged by Old Town Mortgage

The Great Beginning Program offers an excellent way for the first time homebuyer to achieve their homeownership dream. If you have an interest in this program apply today. Open the “Apply Now” button and complete the Short Loan Application".