Renters can now buy a home with NO MONEY DOWN with our new combination 100% 1st mortgage and up to a $25,000 2nd mortgage. If you have good to excellent credit, a steady job (or in the same line of work) for the last 2 years, then you too can own a home. Stop throwing away money each month on rent and start building equity in your own new home!
The program works like this. Mid City will structure a 1st mortgage for you for up to 100% of the purchase price. We will then structure a 2nd mortgage which will go behind or "piggyback" your first mortgage. Out of this 2nd mortgage comes what would normally be your "down payment" and all closing costs.
All you do is get pre-approved through our special loan program originator Ann Silver. We tell you what price range you can afford, you pick out a property in your area and price range, and you move in. You are now a homeowner! It is really this simple. The only thing we must caution you about is to be realistic concerning the house type and price range. Generally when people rent, you tend to get more amenities included in the apartment or complex, versus what you can get when you BUY a property. The main thing to remember is that you can now OWN something and begin building equity versus renting and thus paying for someone else's mortgage.
Either fill out our online application, e-mail us at midcitymortgage@comcast.net or call Ann Silver our borrower coordinator at our headquarters 1-877-343-4400 (tollfree). Your application will be routed to the right loan originator who will properly analyze your situation. You should be contacted within the next 24 hours.
Hope you are having a GREAT day!