Now there's several reasons to buy a new home today!
Up to $2,000 Closing Costs Paid by Builder
Our Builders are committed to building the best home for you at price you can afford. That's why they have agreed to give you up to $2,000 toward closing costs. But don't wait too long, this offer will not be available forever. Contact us today at (252) 626-3721 to get started.
100% Financing for Qualified Buyers
Homeownership is, for many people, the cornerstone of the American Dream. BB&T's Community Homeownership Incentive Program (CHIP) is structured to address the challenges of home ownership, including down payment funds, closing costs, and income requirements. Your minimum investment may be lower than you think. Details for the CHIP program are outlined below.
CHIP REQUIREMENTS |
| Loan Financing - Up to 100% |
| Credit Score - 660 or better (with no late payments over the last 12 month period) |
| Maximum loan amount - $417,000 |
| Interest rate - 30 year fixed interest rate with no points & no origination fee |
| Private mortgage insurance - Not required |
| Source of down payment/closing costs - Qualified gifts, grants and loans. Minimum $500 of buyers funds |
| Home inspection - Not required (but recommended) |
To pre-qualify, contact Ann Little, VP Mortgage Loans at BB&T: (252) 638-7122 or email: alittle@bbandt.com.
VA and FHA Loans Available
The federal government has a number of programs in place to help people with lower incomes realize the American dream of home ownership. One of these programs is administered by the Federal Housing Administration (FHA). Another is governed by the Veterans Administration (VA). There are some differences between the two programs, but their main purpose is very similar: to provide those with lower incomes the opportunity to enjoy home ownership.
The FHA was created in 1934 for the purpose of “promoting home ownership in the United States.” During that time home ownership was not very common. The FHA currently resides as a section of the Department of Housing and Urban Development (HUD). The FHA does not actually provide mortgage loans. It insures loans made by private lenders, known as an FHA home equity loan. This provides those lenders with added security, thus making them more willing to write loans to people with lower incomes.
The VA Home Loan Guaranty Program was conceived as a part of the Servicemen’s Readjustment Act of 1944. The VA Loan Guaranty Service is the organization within the VA that administers the home loan program. The mission of the program is to “help veterans and active-duty personnel to purchase and retain homes in recognition of their service to the Nation.” Although it is only for this specific group of citizens, the purpose of the VA program is identical to that of its’ FHA counterpart: to promote home ownership to those who might otherwise not have the opportunity. And, like the FHA, the VA does not make loans; it guarantees those loans made by private lenders to eligible program participants.
For more information about these two programs visit:
Federal Housing Administration
Veterans Administration
All of these great savings plus low mortgage rates make it a perfect time to buy.
Call Today: (252) 626-3721
|
