Getting your mortgage can be easy with U.S. Financial!

There’s quite a lot involved when you get a mortgage loan. You wouldn’t be researching mortgage loans if it were possible to get a loan in a single day by filling out a simple application. We do most of the heavy lifting for you, so you can concentrate on what’s important — preparing to move into your new home or saving money.

What Is a First-Time Home Buyer Loan?

First-time home buyers are defined by the FHA as a person who has not owned a home for three years. These loans typically offer low down payments, reduced interest rates and the possibility of deferring payments.

Perks for first-time buyers

Congratulations! Now that you are buying your first home you qualify for one of the best tax deductions out there. If you qualify deduction allows you to deduct all interest on your new home purchase. Want to see if you qualify? Contact Us Today!
For many first-time home buyers, opting for the smart choice of a lower down payment private mortgage insurance is required. Thanks to the Protecting Americans from Tax Hikes Act of 2015, those who itemize can now deduct this cost as interest!
Recently, it was announced that the minimum down payment on certain mortgages would be reduced from 5% to 3%. This means that for a $200k loan, what only a few years ago would require a $10,000 down payment, will now only require $6,000! Why wait for it to change again?
As you are going down the road to buying your first home, you will notice real estate tax being added into the mortgage equation. Real estate tax is imposed by local or state governments on the appraised value of your property. Now you can add one more deduction and make the most of the tax season with your new investment!
When receiving an FHA loan, the seller is permitted to give up to 6% of a home’s purchase price to the buyer to pay for any loan closing costs. This can include prepaid taxes and insurance, government fees, certain energy-efficiency improvements, and certain home repairs. Contact us today and let us help you determine which costs are allowed and which costs are not.

Loan Questions? Let the U.S. Financial team help find the loan right for you.
Contact Us!