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Anonymous
New Mortgage
2016-02-25 02:36:14 Post No. 1109882
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New Mortgage
Anonymous
2016-02-25 02:36:14
Post No. 1109882
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Hey guys real estate fag here.
Well not really, I'm actually buying securities right now -- that you guys would probably call me stupid for buying, but whatever.
Anyway, I just wanted to talk briefly about the new mortgage offered by BAC. It's a great loan offer for first time home buyers. I saw an article on CNN about 3% mortgages.
http://money.cnn.com/2016/02/22/real_estate/bank-of-america-low-down-payment/
Anyway, the reason why this is such an attractive offer is because it's at a lower down payment than an FHA, and it doesn't need require private mortgage insurance. Traditional loans, and FHA certainly require that, unless you put down 20 percent on a traditional loan.
The loan requirements are 660 credit score, your income can't be higher than the median household income of your county, and you obviously need reported income.
Good luck guys. Not saying real estate is going to go up or down or is a solid investment, just wanted to make sure you guys knew about this new loan offer. Oh you have to take a class about first time home buying/financial bull shit. I called them about it and they seemed willing to answer questions.
