Why You Should Always Use A Mortgage Broker

There are still mortgage programs available for little to no money down. A client of mine recently purchased a home with 5% down. He had enough money in the bank to put more cash down on the house, but not enough to put much more down.

He thought that 20% was a requirement in today’s volatile marketplace (this was information that he was given by a loan officer at a local bank). He was happy to realize that the cash he had put away for emergency/savings could be spared, and that the cost of leveraging the home up to 95%LTV was worth the giant hit he would have taken from his savings account.

The rate was under 7% and the lender paid the mortgage insurance. His purchase is a perfect example of why programs with low money down can be wise in certain circumstances.

Shannon O’Brien

Phone 888.595.7339

Fax 888.388.8366

Cell 727.420.7875

sobrien@mygatewaycapital.com

Apply On-Line at:

www.mygatewaycapital.com

You only think about home financing a few times during your life ~ we think about it every single day. It’s your home and your future. It’s our profession and our passion. We’re ready to work for your best interest.

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