{"id":115,"date":"2018-10-23T07:18:04","date_gmt":"2018-10-23T07:18:04","guid":{"rendered":"http:\/\/www.floridacapitalbank.com\/?page_id=115"},"modified":"2019-07-22T20:23:19","modified_gmt":"2019-07-22T20:23:19","slug":"first-time-home-buyer","status":"publish","type":"page","link":"https:\/\/www.floridacapitalbank.com\/first-time-home-buyer\/","title":{"rendered":"First-Time Home Buyers"},"content":{"rendered":"<div id=\"pl-115\"  class=\"panel-layout\" ><div id=\"pg-115-0\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-115-0-0\"  class=\"panel-grid-cell\" ><div id=\"panel-115-0-0-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"0\" ><div class=\"so-widget-sow-editor so-widget-sow-editor-base\">\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h2>HomeReady<sup>\u00ae<\/sup><\/h2>\n<p>HomeReady<sup>\u00ae<\/sup> by Fannie Mae is an affordable, low down payment mortgage product designed for credit-worthy low- to moderate-income borrowers, with expanded eligibility for financing homes in low-income communities.<\/p>\n<div id=\"panel-2218-1-0-2\" class=\"so-panel widget widget_sow-editor panel-last-child\" data-index=\"4\">\n<div class=\"so-widget-sow-editor so-widget-sow-editor-base\">\n<div class=\"siteorigin-widget-tinymce textwidget\">\n<ul>\n<li>Low down payment; as little as 3% down for home purchases.<\/li>\n<li>Flexible sources of funds can be used for the down payment and closing costs with no minimum contribution required from the borrower\u2019s own funds.<\/li>\n<li>Non-occupant borrowers permitted<\/li>\n<li>Cancellable mortgage insurance (restrictions apply)<\/li>\n<li>Reduced MI coverage requirement for loan-to-value ratios above 90% (up to 97%)<\/li>\n<li>Easy-to-use, online Homeownership education course helps buyers get ready to buy a home and be prepared for the responsibilities of homeownership.<\/li>\n<\/ul>\n<h2>Home Possible<sup>\u00ae<\/sup><\/h2>\n<p>Home Possible<sup>\u00ae<\/sup> offered by Freddie Mac is an alternative to FHA. It features the ease of a conventional mortgage with a low down payment option and flexible credit terms. Designed for low-to moderate-income homebuyers or buyers in high-cost or underserved communities.<\/p>\n<ul>\n<li>Low down payment; as little as 3% down for home purchases.<\/li>\n<li>Down Payment can come from a variety of sources, including family, employer-assistance programs and secondary financing.<\/li>\n<li>Mortgage insurance (MI) can be cancelled after loan balance drops below 80 percent of the home\u2019s appraised value.<\/li>\n<li>Mortgage term flexibility with fixed-rate and adjustable rate terms.<\/li>\n<li>Borrowers without credit scores are eligible for mortgages with down payments as low as five percent.<\/li>\n<li>Program is not limited to First-Time Homebuyers. Borrowers who meet the income requirements can qualify.<\/li>\n<\/ul>\n<h2>HomeOne\u2120<\/h2>\n<p>Available to qualified first-time homebuyers for a low down payment of just 3%, the Freddie Mac HomeOne\u2120 Mortgage is a low down payment option that serves the needs of many First-Time Homebuyers, along with no cash-out refinance borrowers.<\/p>\n<ul>\n<li>Choice product for purchasing single family homes, including townhouses and condos.<\/li>\n<li>There are no income limit requirements and no geographical restrictions.<\/li>\n<li>At least one borrower must be a First-Time Homebuyer if a purchase transaction<\/li>\n<li>Standard Mortgage Insurance (MI) coverage applies.<\/li>\n<li>All borrowers must occupy the property as their primary residence<\/li>\n<li>Homebuyer education required for purchase transactions when all borrowers are First-Time Homebuyers.<\/li>\n<li>Down Payment Assistance program and Affordable Secondary financing funds can be used for down payment and closing costs.<\/li>\n<\/ul>\n<p><em>HomeReady is a registered trademark of Fannie Mae. Home Possible is a registered trademark of Freddie Mac. HomeOne is a service mark of Freddie Mac.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>HomeReady\u00ae HomeReady\u00ae by Fannie Mae is an affordable, low down payment mortgage product designed for credit-worthy low- to moderate-income borrowers, with expanded eligibility for financing<\/p>\n<p> <a class=\"read-more\" href=\"https:\/\/www.floridacapitalbank.com\/first-time-home-buyer\/\">Read More \u00bb<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/www.floridacapitalbank.com\/wp-json\/wp\/v2\/pages\/115"}],"collection":[{"href":"https:\/\/www.floridacapitalbank.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.floridacapitalbank.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.floridacapitalbank.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.floridacapitalbank.com\/wp-json\/wp\/v2\/comments?post=115"}],"version-history":[{"count":25,"href":"https:\/\/www.floridacapitalbank.com\/wp-json\/wp\/v2\/pages\/115\/revisions"}],"predecessor-version":[{"id":4641,"href":"https:\/\/www.floridacapitalbank.com\/wp-json\/wp\/v2\/pages\/115\/revisions\/4641"}],"wp:attachment":[{"href":"https:\/\/www.floridacapitalbank.com\/wp-json\/wp\/v2\/media?parent=115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}