Finance Your Home
No Money Down Payment Programs
Thru Our Lending Partners
Act Now! Take advantage of $0
money down programs. Call us to explore your options to purchase a Smith Douglas
home with no money down.
Other Popular Programs Thru Our Lending
Partners:
• FHA - If you are a first time buyer or have owned a home before
and have less than perfect credit, an FHA loan may be the right choice for your
financing. FHA loans are guaranteed by the Federal Housing Authority, offer competitive
rates and loan terms and only require 3.5 percent down.
• Farmers Home Loan Administration (FmHA) exists to help those
in certain rural areas with a variety of services and by working with lending agencies
that are qualified to extend governmental guaranteed loans to those individuals
and communities that meet qualifications. This loan product is a lower interest rate, 0 percent
down and does not have mortgage insurance. Our Smith Grove community qualifies as
a rural area. Learn more about these loan programs online at
Farmers Home Loan Administration.
• GEORGIA DREAM LOAN is a fantastic loan for those who need down payment help!!
The interest rate is very low!! This is a loan through the State of Georgia’s Department of
Community Affairs. Not every lender wants to or can do these loans well but we have lenders who
are very knowledgeable and have helped many of our homeowners move into their homes already.
Please call us for more information. You may also go the website:
Georgia Dream Home Ownership Program
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Finance Your Home Frequently Asked Questions
(FAQ’s)
House prices seem to be continuing to go down. Should I wait to consider buying
a new home?
No, now is the best time to buy a new home, for several reasons:
- The forces pushing house prices down are pushing mortgage rates up. Anything you
might gain in waiting for the house price to go lower will likely be offset by the
increase in mortgage interest rates. Time magazine recently did a story on
this….click here to
learn more.
- Many down payment programs are being phased out. Buying before this happens
offers
opportunities to buy a new home with little or no money down.
- It is truly a “buyer’s market” right now…..but only if you buy now while home
prices are low, interest rates are low, and attractive first-time home buyer programs
exist!
How much home can I afford to purchase?
Buying a home is one of the most important investments you will ever make. For an
estimate of how much home you may qualify for, use our mortgage calculator or stop
by our sales office and let our onsite sales representative pre-qualify you. You
will need to know your gross monthly income (income before taxes and any other deductions
that are made from your paycheck), monthly expenses (such as a car payment, minimum
credit card payment, student loans). It’s quick, it’s easy and it’s free.
How can I pre-qualify for a new home?
It’s easy…it’s free and it only takes a few moments. Visit one of our communities
and tour our beautiful model home. Our onsite sales representative will partner
with you every step of the way. Our sales representative will provide you with a
print out of your estimated monthly payment.
What are the advantages of owning a home vs. renting?
When you own a home all of the interest and property taxes you pay each year are
deductible from your income. The tax savings could be substantial! The
rent you pay is benefiting your landlord. You get nothing. Why not put
that money in your pocket instead of your landlord’s? Your tax preparer can advise
you on your potential savings in owning a new home.
What if I’ve had some challenges with my credit?
You would be surprised. Many people have had challenges with credit. Things
happen in life that you can’t always control. There is no need to be embarrassed.
We are here to assist you in obtaining your dream of home ownership. Keep
in mind that your credit may not be as “challenged” as you think.
I’ve heard that it’s extremely difficult to get a loan.
That’s true in some cases, but not all. Don’t let fear get in the way or be
the reason that you don’t purchase your very own home. Although it is tougher
to get loans today, it’s not impossible. In some situations the home buyer
may be required to take care of some outstanding items before getting approved for
a loan. There are many different loan programs available to choose from and we,
along with our preferred lenders will help you find the right loan to meet your
individual needs. You’ll find that some of our loan programs require very
little or no down payment.
I’ve heard that it’s extremely difficult to get a loan.
The Smith Douglas Communities Future Homebuyers Club (FHC) has been designed especially
for you. Our FHC representative help you learn how to read your credit report, coach
you on how to establish a good credit rating, and guide you on a path to home ownership!
We will work with you for as long as it takes. Best of all, this is a free
service through Smith Douglas Communities. We remain passionate and dedicated
to helping people achieve the dream of affordable home ownership. Call our
Sales Office for more information on our Future Homebuyers Club.
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