Molly Lionberger

No Down Payment for Military Families using their VA Entitlement!

For military families that would like to obtain off-base housing, consider using your VA entitlement! If you have the years of service required to obtain your entitlement, you could combine your 100% financing VA loan with some of the Mississippi programs to help you with your closing costs! I can literally structure your loan so that you are out of pocket as little as $500. Plus, VA loans cost less monthly, the interest rate is fixed and lower than Conventional loans.

Give me a call today to set up an appointment so that I can review your individual needs and provide you a Good Faith Estimate.

Molly Lionberger, Assistant Vice President

First Bank and Trust of MS

228-257-9000

email: mlionberger@fbtonline.com

Equal housing lender & FDIC insured

Attention all potential homebuyers that want to buy their primary residence in Gulfport, MS!!

Beginning October 1st, you can pick up your HOMELINE application at Trailer E-2 near City Hall. Part of the application process will be to obtain your homeloan financing.

Call Molly Lionberger, Assistant Vice President at First Bank & Trust of MS today to get pre-approved. 228-257-9000. Email: mlionberger@fbtonline.com

Be prepared with the following documents: 30 days of paystubs, 2 months bank statements, Last 2 years W-2s and tax returns, picture ID & Social security card.

Below is the press release from the City of Gulfport, briefly explaining the program.

CITY OF GULFPORT ANNOUNCES "HOMELINE"

A HOMEOWNERSHIP ASSISTANCE OPPORTUNITY PROGRAM

Gulfport, MS -- The City of Gulfport is very pleased to announce that it has been awarded $9 million in Katrina CDBG Workforce Housing Funds, which are being used to fund "HOMELINE," a homeownership assistance program providing $50,000 in down payment assistance for the purchase of affordable homes in the City of Gulfport.

HOMELINE funds may be used to purchase an existing home constructed in 1980 or later and in good condition, and newly constructed affordable housing located within the city limits of Gulfport.

To qualify for HOMELINE assistance, applicants must meet the household income qualifications, have the ability to secure a first mortgage, and complete a Homebuyer Education Class.

"The CDBG funds will provide long-awaited and greatly-deserved workforce housing opportunities for low and moderate income citizens. I encourage residents to take advantage of this program and fill out an application. The process is simple, and we are here to help," said Mayor Brent Warr.

October 1st, "HOMELINE" applications will be available for pick-up at the City of Gulfport Community Development Department, 2309 15th Street, Gulfport. For more information, call (228) 868-5736 or (228) 868-5862, or email communitydevelopment@gulfport-ms.gov.

City of Gulfport
Contact: Rebecca Kajdan
rkajdan@gulfport-ms.gov
(228) 868-5801

Remember, you need to get preapproved for your home loan. For more information and to get preapproved, call Molly Lionberger, Assistant VP at First Bank & Trust of MS, today to set up your appointment. 228-257-9000.

Many states have bond programs that offer Cash Advances at closing to be applied towards Down Payment and/or Closing Costs. In Mississippi, we have the MS Home Corps Bond Program. It currently is offering a 3% Cash Advance for families that meet the income limits. If you are a realtor or thinking about buying a home in MS, please feel free to call or email me for more information. I have helped dozens of families obtain home ownership with this program. Plus I can help structure the deal so that buyers can come out of pocket with as little as $500. My direct phone number is 228-257-9000.

Molly Lionberger, Assistant Vice President

First Bank and Trust of Mississippi

Great news for the Mississippi Gulf Coast Recovery! Maximum FHA Loan limits increased as of 3/6/08 from $201,050 to $271,050! With the increase of down payment requirement on Conventional Loans due to declining market messages from Fannie & Freddie, plus the reactions from PMI companies resulting in higher minimum credit scores --- this increase from the FHA is a HUGE Blessing.

What this means for buyers who may not fully understand what I just wrote is that you can get a home loan with a minimal 3% down payment and 580 credit score up to $271,050 as long as you can meet the other FHA guidelines. This will save homebuyers thousands of dollars and offer them lower interest rates and lower monthly mortgage insurance premiums.

If you are a homebuyer in MS, AL or LA, please feel free to call or email me to find out more information or apply for a FHA loan today!