Charlene Grant 609-312-6625

Guaranteed Loan Program

Credit score to 620!

100- 102 % financing NO DOWN PAYMENT!

www.ShopJerseyShoreHomes.com

A guaranteed loan secured by Rural Development is made by an approved mortgage lender to a borrower who is unable to qualify fully for a conventional loan.

Charlene Grant, Mortgage Consultant/ Realtor Associate

American Dream Wholesale Mortgage / Century 21 Pacesetter 325 Route 72 E, Manahawkin, NJ

369 Oak Ave, West Creek, NJ

CALL- 609-312-6625 Visit online: www.ShopJerseyShoreHomes.com

Rural Development provides guarantees in rural areas. View a list of New Jersey's eligible areas -- this is a 9 Kb PDF file or determine property eligibility.

The guaranteed program authority provides Rural Development with another tool to serve low and moderate income applicants in eligible rural areas. Income limits are statutory. View the Guaranteed Loan Income Limits for New Jersey (PDF file) determine income limit eligibility.

The Guaranteed Housing Program may be used to buy new or existing homes and related facilities and approved existing condominium units. Houses may be built on individual tracts or in subdivisions.

An applicant must:

• Have a satisfactory credit history.
• Have adequate and dependable income that conforms to established Agency limits and regulations.
• Possess the legal capacity to enter into a loan obligation.
• Qualify for loan eligibility with a debt to income ratio of 29 percent (PITI) and 41 percent (MOTI) respectively. Flexibility in ratios can be granted if you qualify.
• To find out how much you qualify call me today at 609-312-6625

Loan rates are negotiated between the applicant and lender. However, loan repayment terms cannot exceed 30 years (No ARM's). There are no monthly Private Mortgage Insurance (PMI) premiums.

The lender pays Rural Development a guarantee fee.

The amount of the loan may not exceed the maximum dollar limits established by Investors. (Fannie Mae, Freddie Mac, HUD/FHA, VA, etc).

Rural Development allows loans of up to the lesser amount of 100 percent of the market value of the dwelling or 102 percent of the acquisition costs including the guarantee fee and customary closing costs.

Approved lenders process an d submit loan applications to Rural Development. Rural Development will evaluate the application and respond to the lender within 48 hours with a final determination on the loan proposal. Call 609-312-6625 today for more info.

Mortgages Are Still Available, Despite the Credit Crunch

The recent months have been marked with great chaos and disruption as the financial crisis took its toll on the mortgage, investment and lending markets. Our nation, as well as the rest of the world, has feared for a total collapse until the financial problems were one-by-one resolved and the gravity of its effects countered. Presently, despite the fact that a credit crunch still exists, current homeowners and prospective home buyers still have much to look forward to.

Government Bailout and Interest Rate Cuts
Credit may be tight, but it is not frozen! Thanks to the government's recent bailout, individuals throughout the nation are still able to find conforming and FHA-insured mortgages. With the United States Department of Housing and Urban Development (HUD) and the government's help, 400,000 families have been able to keep their homes by refinancing their mortgages with HUD's affordable mortgage insurance program.

Modified Mortgages
Several banks have already begun to provide modified and more affordable mortgages to borrowers. IndyMac and Bank of America Corporation, which recently acquired Countrywide Financial Corporation, are just a few of the banks that are modifying borrower mortgages in hopes of making home ownership more feasible and affordable.

Contact Charlene Grant with American Dream Wholesale Mortgage Corp today at 609-312-6625 to make sure your current loan is well within your financial means or to see if you may qualify for a mortgage loan modification.

Borrower Qualifications
All loan programs require that the borrower meet several income, employment and credit guidelines. Though these loan restrictions have gotten tighter, American Dream Wholesale Mortgage Corp has the latest interest rates and mortgage application guidelines at hand so that you can be sure you do not stretch your financial limits.

With the exception of Jumbo loans, there is almost no difference in the availability of money this year compared to last year. The only difference is now borrowers must provide documentation, including W-2's, bank statements and tax returns. Before applying for a loan, be sure to discuss your program options and application qualifications with American Dream Wholesale Mortgage Corp.

Keeping You Informed
American Dream Wholesale Mortgage Corp is dedicated to keeping you informed of the latest market trends and mortgage options. Visit online at http://www.ShopJerseyShoreHomes.com, or call today at 609-312-6625, to obtain custom loan options designed to fit your needs and help you obtain your ownership goals.

Charlene Grant, Realtor Associate / Mortgage Consultant with American Dream Wholesale Mortgage Corp.

Century 21 Pacesetter

609-312-6625

Hot Program!
100%-102% Mortgage Financing Available!

Government program available for 100% financing, Some geographic and income restrictions apply.

Here are some Borrower highlight!

Minimum 620 credit score requires
Primary residence single family home
First time homebuyers OK
No mortgage insurance
Up to 102% financing of appraised value not purchase price!
Seller closing contributions OK

No Down Payment required
30 year fixed mortgage terms
New or existing properties OK

Contact:

Charlene Grant, Realtor Associate. / Mortgage Consultant Amercian Dream Wholesale Mortgage

Century 21 Pacesetter

609-312-6625

Visit online: www.ShopJerseyShoreHomes.com