Help for First Time Homebuyers

As most of you are aware, it is tough for young homebuyers to be able to buy their own home in the DMV. Between the high cost of housing, relatively high interest rates, and the cost of mortgage insurance, many potential homebuyers are putting off buying. The average age of a first-time homebuyer is 38 years old. Patrick and I see this play out frequently in our talks with members of the adult sports leagues we sponsor.

In our experience, the greatest stumbling block is saving enough money for the down payment and closing costs. We now have a great solution to that problem – the Community Combo. Here are the highlights:

• 80% first mortgage combined with a 20% second mortgage for 100% financing
• The interest rates for the first and second are the same competitive rate
•  No PMI (private mortgage insurance)
•  You do not need to be a first-time homebuyer
•  Income limits apply

We have two clients under contract using this program, and it is awesome. Please contact me with any questions.