Tuesday, June 1, 2010

5% down financing is back...and it is working...talk to Bonnie

Meet Bonnie Vasilion with 1st Advantage Mortgage . Located on the north side of Chicago, Bonnie has been working in mortgage lending long enough to know that thinking outside of the box these days is crucial. Now that the government stimulus has lapsed for most buyers, there are still low down payment options available with excellent rates. 5% isn't just for FHA buyers anymore.

According to Bonnie,  "People can buy NON FHA-Approved condos now with only 5% down! This opens up opportunities for many buyers AND sellers with units in non-FHA approved condominium projects. I can offer conventional financing with PMI (“private mortgage insurance”). This is also a much more affordable way to purchase rather than obtaining FHA financing."

With lending guidelines changing by the week, it is important you have a lender who is familiar with current trends. Make sure you have an open relationship with your lender so you can talk about the good and the bad so you can get into the right product and know you can get to the closing table without the headaches you hear so much about.

Feel free to contact Bonnie directly at her office: 847-869-7100  x 3322.

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