VHDA Loan = Legit???
Please excuse my ignorance as I know almost nothing about loan products.
Speaking with a builder’s mortgage lender, they offered a loan product under VHDA. Ever heard or it?
They have a product called Flex Alt 100. Here are the basics:
-No Downpayment Required
-No Mortgage Insurance
-Lower Monthly Payments
-Expanded Qualifying Ratios
-Tax Advantages
-Flexible Pricing Options
-Available to Current Homeowners
Details: http://www.vhda.com/vhda_com/Template_a.asp?VHDA_COM_PAGE_NAME=Flex_Alt
And then have Flex Alt Advantage. Not sure what the differences are:
http://www.vhda.com/vhda_com/Template_a.asp?VHDA_COM_PAGE_NAME=FlexAdvantage
It seems almost too good to be true. It offers pretty low rates (if you qualify), No mortgage insurance and No down payment!
Any advice? Even though we are first time home buyers, we didn’t qualify for the First Time Homebuyer program because our income was barely over the maximum limit.
Thanks!
Read the fine print..
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Franklin Financial chooses Mortgage-Flex LOS.(Tech Newz): An article from: Mortgage Banking $9.95 This digital document is an article from Mortgage Banking, published by Mortgage Bankers Association of America on June 1, 2009. The length of the article is 434 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Franklin Financial ch… |
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