Posted on: 21st Jun, 2013 12:01 am
We are looking forward to buy our first home. Presently we are living in a rented property paying $450 per month. The company for which my boyfriend works will help him get 10% discount off the mortgage of the houses that they are building. We have a good amount of money saved as down payment. Can we get a 30 year mortgage?
Have the right credt score, preferable above 720 and steady source of income. You should then be able to qualify.
Yes. In addition to the above eligibility criteria, you should be able to make the minimal 20% down payment. This will help you to avoid paying for the private mortgage insurance or PMI, in case you don't make that much payment.