So a week ago I ranted about the program. whether or not its a political play you may be able to take advantage if you call into the category they specify to qualify. You may not have been able to qualify for a mortgage before when you only had 5% down but with this incentive they can give you 5% more and get you at 10% which may be the difference you need. Here is a link for more info thanks to Bob Rees with Dominion Lending.
Bob is one of our trusted mortgage brokers and we had him breakdown how much income you need to make to be able to qualify to get the down payment from this program with a few of our listings we have right now:
1) $228,000 160 Callingwood Place
- Approx $49,000 per year in income required*
- Approx $47,000 per year in income required*
- Approx $34,500 per year in income required*
*Qual rate used 5.19%
*Based on 10% down payment; 5% from clients own funds and 5% from government program
*Subject to final approval
Curious to take a look at one of these places or other homes? Call or text Melody at 780-945-7821.
Want to talk to Bob to get qualified? Call or text him at 780-975-9747