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Zero Down Payment
The House America® Loan Program
With the goal of making homeownership more affordable, Countrywide’s House America Loan Program includes special features that can be attractive to individuals and families that do not fit within traditional loan guidelines. No down payment requirement is a highlight of this program. There is also a lot of flexibility when it comes to sources of income, assets, and the items in a credit history.
The flexible features of the House America loan program were designed to help qualified borrowers address many of the traditional barriers to homeownership:
- Credit History. The program can consider monthly rent and utilities payments to establish a favorable credit history.
- Income and Assets. The program can consider income from multiple jobs, extra income from jobs such as child care, cleaning services, home repair and maintenance, rent paid by a live-in boarder, and personal savings not held in a traditional banking account.
- Debts and Other Bills. The program is designed to help people who may use a higher than average amount of their monthly income to pay living expenses and debt.
- Home Loan Payments. There are a variety of repayment schedules available with this program.
Other attractive features include options for having immediate family members (parents, children or siblings) help each other buy a home of their own. The House America Loan Program can be a great financing solution for home buyers.
(Some Special Features cannot be combined. Other restrictions apply. Ask for details.)
Veterans Affairs (VA)
Countrywide offers VA Loans, guaranteed by the U.S. Department of Veterans Affairs under its Home Loan Guaranty Program. These loans are on approved property, made to a
qualified veteran and offer very attractive terms.
Rural Home Loans
If the home you wish to buy is in an area that meets certain population criteria, Rural Housing Services and Countrywide have teamed up to offer loans on new and existing properties
with cost-saving advantages. No down payment and no mortgage insurance are required. A higher debt-to-income ratio (how much you spend each month versus how much you make) may be allowed. Plus, the seller may
contribute to your closing costs.
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