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10721 Jackson Lane, Frisco TX 75035

Phone: (214) 387-0683       Fax: (214) 387-0185       Email Us

 
 
 

Community Home Buyers Program

The Community Home Buyer's Program TM lets you use a greater amount of your monthly income toward housing costs compared to other standard mortgage products. This mortgage requires a down payment of only 5 percent. To qualify for this loan, you must earn no more than the area median income (exceptions are made in specified high-cost areas).

Key Features

  • No cash reserves are required (i.e. you do not need one month's mortgage payment in your savings account) when you go to closing. This mortgage provides expanded debt-to-income ratios, which means you may use up to 33 percent of your gross monthly income for housing expenses each month (instead of the standard 28 percent) and 38 percent for your total monthly debt expenses (instead of the standard 36 percent).
  • Home buyer education is required (it may be offered by your lender or your lender may be able to recommend a resource).

 

2006 Conforming Loan Limits

Number of
Units
Maximum original
principal balance
Alaska, Guam, Hawaii,
and U.S. Virgin Islands only
1 $417,000 $625,500
2 $533,850 $800,775
3 $645,300 $967,950
4 $801,950 $1,202,925

 

 

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OPEN MORTGAGE
10721 Jackson Lane, Frisco TX 75035

PHONE:
214-387-0683EMAIL: info@brown-lending.com

 

"Your reliable Dallas Mortgage Broker and specialist on Texas Mortgage Rates and Home Mortgage Loans."

 

 

Fixed Rate Mortgage