I wanted you to be the first to know about a new mortgage program being offered by Prosperity Mortgage!
With this program, any Northern Virginia area homebuyer can buy a home and have three, six, or even nine months with NO MORTGAGE PAYMENT. This program can be used for any conventional loan, and it can be used to purchase any home, no particular subdivisions or neighborhoods to target, but any home.
How it works, the program allows for a maximum seller contribution of up to 6% of the sales price. Any money left over for closing costs, will be held by the mortgage company in a separate account, and will be paid directly from the account and applied to your principal and interest payment for your new mortgage.
For example, on a $350,000 home, the average closing costs are roughly $7000. However, when negotiating your sales contr act, if the seller agrees to pay 6% of the sales price toward your closing costs, or $21,000, then the remaining $14,000 will be set aside for your mortgage payment.
Assuming you have a zero down payment, and a 6.5% interest rate, your principal and interest payment are approximately $2213 per month. With $14000 left over, that money will be paid directly to your mortgage company, and you will have SIX MONTHS WITH NO MORTGAGE PAYMENTS!!!
What does it take to qualify?
- Stable employment history
- About 6-9 months at your current job
- A minimum credit score of 620, and
- You must settle on your new home after November 15, 2006.
More information about this new program will be available upon request. If you would like more information, just email me, and we will answer all of your questions about this phenomenal new mortgage program.
I've also just set up a special Toll-Free number specifically to provide more information on this program. If you'd like to tell a friend, the Toll Free number is 1-800-728-1885 x2824 and it is available 24 hours a day!