You are currently browsing the tag archive for the ‘No money down’ tag.

Loans, Buy Down Mortgage, Save money, Money, Mortgage

Loans, Buy Down Mortgage, Save money, Money, Mortgage


I found a great resource for people looking for ways to save tons of money on accumilating interest.
Its called “How to knock 9 years off your mortgage.”

I feel that mortgage brokers should be the “good guys” when it comes to owning a home. When a lot of money is moved around in real estate there is definitely room for greed’s nasty face to show up. If banks had it their way they would be constantly lending money to you and gaining tons of interest on that money. It’s what they’re good at. Although its not all that bad. If you know how to make it work to your advantage! Do your homework. Study how a mortgage can work for you. And if youre reading this, you are moving in the right direction.

The reason why we should be the good guys is that we’ve already done the homework, we know the material. We should be guiding clients in the best possible direction just as a financial planner would. We should be earning our comission through good sound advice and life long/Mortgage long guidance. We SHOULDN’T be putting people into loans we know they can barely make it by. Why let the public suffer with a sub par quality of life paying tons of money towards a mortgage they cant afford? But thats what was happening for a while.. knowlegeable mortgage brokers letting their loan officers solicit without the clients best interest in mind. Greed played a big part in the mortgage meltdown. I’m hoping to help turn it around one loan at a time.

*UPDATE* I am a finishing up my degree and classes had just started a week ago. There is a lot of transformations going on and I would like to apologize to the readers of this blog for not posting regularly like I should. There has been a few changes.

The Down Payment Assistance programs are most likely going to be non existant by october 1st of this year. This is very close. It will be one of the Bush administration’s final blow to the mortgage industry. Although I understand the reasoning behind its dismantlement, the down payment assistance program helps alot of renters that don’t want to throw their money out the window with monthly payments to their landlords. It will be devistating to many.

*Exciting News* – Ford Financial is now one of 3 institutions helping with a 220 apartment units transition into condominiums. This is great for us because the other two banks have a limit credit score or they can’t do the conversion. I know we will help alot of people stay in their homes.

If you have any questions about your current mortgage, credit repair, or getting a mortgage please contact us today!

So many of you have probably realized that our website is still “under construction”. We are in the process of transfering Website hosting companies, and the transfer will not take place untill the 29th of july. Another 5 pain-staking days! Well in the meantime feel free to browse our blog for information about mortgage services we offer (like no money down loans) in the great state of New Jersey! Hopefully everyone’s summer is a breeze so far! — Also you can still visit our other website that were are in the process of transfering

With the current domain name you will be able to use a varitey mortgage calculators at your convenience, create your very own login account so when you apply with us you can check the status of your loan while taking little time out of your day. Even check out the loan application checklist so you know you have everything you need, So go ahead and check out the SOON TO BE.. Ford-Financial.com

As most of you know from previous posts, FHA loans (loans that are insured by the government), only requires 3% money down on the purchase of a new home. Most of you might be saying WOW THATS FANTASTIC, others, not so much. Still, it is exciting in the mortgage industry because there are non-profit organizations such as Nehemia and Ameridream that gift up to 6-10% of the purchase price to cover things like closing costs, the FANTASTIC 3% down payment, and if there is still money to be gifted it could be used for repairs.

call us today for more information!

There is a new term out there that many of you probably don’t know about, and its called EEM – Energy Efficient Mortgage. Thats whats next on the blog.. check back for more.

Some of you will notice the two new links on the left hand side of this page. These are links to government sponsored programs. Both are very similar in that they both are involved with down payment assistance. With these two programs you can buy a house with no money down. So when you hear everyone say NO MONEY DOWN, this is what they’re talking about.

How does it work?

Being that they are non-profit organizations they basically take a check written by the seller, the organizations then process that check and write a new check as a “gift” or “grant” for the down payment which the seller is returned in the end.

There were some problems with this earlier on in the year between the government and them regarding whether or not they really are a non for profit organization.

Either way they are still providing homes with no money down through FHA backed mortgages. Being FHA experts in this field if you are looking to buy a home for no money down it most definitely is possible!!