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When you apply for the First Time Home Buyers program you get the very best service and the utmost in respect to make you a proud Homeowner. American Home Lenders will guide you along the path of homeownership.
Keep in mind we will match you with the best program available and it is our job to help you so feel free to ask us any questions you might have.
The First Time Home Buyers Program:
No minimum credit score – We have programs that do not have a minimum credit score requirement. The underwriters will evaluate your entire credit profile to determine the likelihood of repayment. Past credit issues may be overlooked if new credit has been re-established. Also, other compensating factors may apply.
Bankruptcy okay – Chapter 7 bankruptcies are allowed if discharged over 2 years ago (or 1 year with extenuating circumstances). Chapter 13 bankruptcies are allowed with a minimum of 1 year of on time plan repayment and trustee approval.
Little or No Money Needed – Certain Loan Programs will allow the seller to pay up to 6% of the sales price toward the closing costs. In addition, you may also be able to take advantage of down payment assistance programs and buy a home for no money out of your own pocket!
Housing History– American Home Lenders offers programs that do not require a rental or other housing history if it is not available.
Non-occupying co-borrower allowed – A non-occupying relative to co-sign the mortgage. The non-occupant’s income and assets can be used for qualification purposes. This is generally used for parents to help their children buy a home.
Property types – Single Family Residences, Condos, Town Homes,
No cash reserves required – Unlike most conventional loans, we offer programs that do not require you to have cash reserves on 1-2 unit properties. However, having reserves can help strengthen the overall credit profile.
Use our home purchase qualification calculator to get an idea of what program best fits your home purchase needs.
Purch Calc.
Contact us for your free Pre-Approval and congratulations on your NEW HOME.
Free Pre-Approval
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