You only buy your first home once
Doing anything for the first time can be daunting, and purchasing a home is no exception. Luckily, we’ve helped thousands of people become homeowners, and have developed a program that will help first-time homebuyers achieve their long-term financial goals.
First Time Homebuyer Program
- Primary Residence, 1-2 units, co-ops & condos*
- As little as 3% down
- No mortgage insurance required
- Up to 97% LTV
*income & location restrictions apply
Starting out is a great place to start.
Recently entered the workforce, just got married, not looking to make a long-term commitment- these are reasons people give as to why they are not ready to purchase a home. Ironically, these are all great reasons to purchase a starter home.
Residential real estate is an excellent long-term investment. As a property grows in value and monthly payments are made, your asset becomes more valuable- this is called equity.
When you are ready to purchase your forever home, you can then leverage that equity as a downpayment on that home.
FAQs
Do you offer any state government first-time homebuyer programs?
At the moment, we do not. It is best to research your options with a trusted loan officer and make an informed decision.
If I’ve purchased an investment property, am I still eligible?
No, it has to be your first time purchasing any property.
What is mortgage insurance?
Mortgage insurance is a monthly fee paid to your mortgage provider until you have reached 20% LTV.
Mortgage Calculator
If you want to figure out what your monthly payment may look like, use our mortgage calculator below.
Ready to figure out your options?
Ark Advisors are here to help.