You Have Home Loan Options
When it comes to home loans, the old cliché, “the
more the merrier” doesn’t always ring true. Sometimes
the amount of loans you have to choose from is overwhelming.
So GMAC has broken down the home loan choices we offer into
five easy to follow options.
1. The first are the GMAC Exclusive Zero Down programs. They
include the HomeStretch and HomeStrength plans that do just
what they say – offer zero down payment. While you won’t
pay any costs upfront, you also enjoy receiving 4 percent
of the loan’s approved price to go toward the cost of
closings. These plans are very valuable to first time buyers
and are recommended for those people who are looking to live
in that property for more than 10 years.
2. Another zero down option we offer is the Basic plan. This
plan also offers a viable option for those who cannot afford
a down payment. The only stipulation is that you keep $500
on hand for the cost of the closing. The Borrower’s
Advantage plan is another option with zero down for buyers
with impeccable credit. With this plan ALL if the cost of
the home is financed by GMAC.
3. Our Low Down Payment Plans help those who have some money
for a down payment, but not as much as is required for standard
loans. The Community Homebuyer’s and Pathways programs
require no more than $500 to secure a home.
4. If you have special needs when purchasing a home, we have
options for you. New US residents can find a home in their
new country with the Settle America plan. If you work for
yourself, you know that stating your income is a hard thing
to do. From month to month it varies depending on how business
is. With the Expressway Program, you can obtain a loan without
a record of your income.
If you desire a low payment without having to commit to living
in the house longer than 15 years, the Interest First Plan
is your options. With bigger interest and lower payments you
are on your way to having the home of your dreams.
5. The traditional fixed rate mortgage is the most popular
of all home mortgages for those who are looking at a stay
of longer than 10 years. You can count on steady, unwavering
payments month after month.
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