Wow! Check out this loan program through Amy Remington at Guild Mortgage with 1% down! Limited time. Watch the video of Dan Hunt and Amy Remington discuss this new loan and grant program.
Dan: Hi I’m Dan Hunt with SJC Management and Washington Realty Group. We have a special guest here today, Amy Remington, she’s gonna tell us about a product that I think will be helpful for a lot of folks out there that are interested in purchasing a house. Amy, what do you got for us today.
Amy: Well we’ve got a pretty cool loan program for those of you that are interested in transitioning into home ownership, but maybe don’t quite have the down payment you thought you needed. We’ve got a pretty cool new thing, it’s called the 1% down or guild grant program, and what that means is, it’s a conventional loan, requires a 3% down payment, but 2% comes from a gift from Guild Mortgage. So you’re only bringing in 1%. So on a three hundred thousand dollar home for example, $3,000 would be the requirement investment. So it’s pretty unprecedented.
Dan: That’s unheard of, that’s a that’s an amazing amount, that’s 1% to get into a house.
Dan: That’s, it just blows me away. It’s pretty great! That would be great for renters to.
Amy: Absolutely, if you’re renting now and you’re thinking, you know gosh I’d love to buy but I don’t think I
have the funds available. This might be something you want to think about and consider looking to a little bit deeper. It’s got a couple of, obviously you have to qualify for the loan, so we need you to have solid income. This program does require a 680 credit score but we do have other down payment assistance programs that will go a little bit lower. So if you’re not quite there, we might be able to help you out with a different product. So what what I like about this one, is you can own other real estate. So, if maybe you move from another state and you have that home still and you’re renting it out, a lot of programs won’t let you buy and use any kind of assistance. This program will. The other thing I like about it, you don’t have to be a first-time home buyer. So if you sold your house already and maybe you didn’t make as much as you were hoping but you don’t
qualify for some of the other programs this one works. So I like that one a lot.
Dan: Is there a time frame?
Amy: Yeah, there is. So Guild Mortgage, and this is such an
amazing deal. Guild Mortgage isn’t gonna do this forever and ever. Rates are very competitive, of course they change daily. So we can’t tell you on the video but you can definitely email and then we’ll give you an update of what they’re looking like. But as of right now they’re saying by December 1st we need to hand you your keys. So if this is something you want to do this year,
give us a call now well we can hook you up.
Dan: Great, great, well thank you Amy. Is there any other stipulations you like to throw out there that’s very important.
Amy: Kind of, you have to do a home buyer education class that’s online. If you read reasonably fast it takes probably an hour and a half-ish and it costs $75. So that’s part of the requirement. Also there are income limits and those income limits are different depending on different parts of the county and there’s some parts of our county that don’t even have income limits. So don’t let that scare you, let us help you decide whether you qualify for that or not. But I’m sure we’ll put up a bunch of little terms and conditions that apply at the end of this video so you know. But this, I’ve been doing homes since 1991, so four
or five hundred years now, and I’ve not seen something this aggressive with no catch ever. So definitely take the time to reach out to Washington Realty and see if this program is right for you.
Dan: Yeah, give us a call we’ll start looking for houses for you and this is not gonna last forever.
Amy: All right thanks a lot!
Dan: Thank you.
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