Home Buying in Philadelphia>Question Details

Kaybee, Home Buyer in Philadelphia, PA

Are there mortgage programs available for buyers with excellent credit, 5-10% down, & a low interest rate?

Asked by Kaybee, Philadelphia, PA Tue Apr 12, 2011

I'd like to pre-qualify and submit an offer by the end of the week or early next week.

Help the community by answering this question:


Hi Kaybee,

There are certainly many programs avaialble for well qualified homebuyers. If you qualify for FHA financing you woud only need 3.5% Down. If this purchase is going to be an investment rental property rather than personal residence, you would most likely be required to put down 10-20%. Please feel free to call me to discuss your options. It sounds like you already have a house in mind, but I'd be happy to review and show you others to compare so you can make a well informed decision before moving ahead with an offer. Once you fall in love with a house, I'd be happy to assist you in negotiating a great deal. You can reach me directly on my cell at 267-254-7994. I look forward to speaking with you soon.

All the best,
Larry B. Lichtman
REALTOR, Property Manager
Your Real Estate Resource For Life
Direct CELL (267) 254-7994
Web Reference: http://www.DJCRE.com
1 vote Thank Flag Link Tue Apr 12, 2011
0 votes Thank Flag Link Tue Apr 19, 2011
Hi Kaybee,

I appreciate the opportunity to earn your business. I can pre qualify you within 24 hours and am very good at what I do. Feel free to give me a call on my cell phone. Have a good night.

Chad E. Bahnsen- Mortgage Professional
Mortgage Network, Inc.
14 E. Stratford Ave Ste 3C
Lansdowne, PA 19050
Cell: 610-457-7262
Office: 610 622-2212
Fax: 1-866-590-3806
E-mail: cbahnsen@mortgagenetwork.com
0 votes Thank Flag Link Mon Apr 18, 2011
You have been given good advice that you should make an application this week if it is FHA financing. There are many good lenders who will be happy to lend as you have good credit. There are resources at http://www.hud.gov where you can get information about mortgages and lenders.
Web Reference: http://www.gitabantwal.com
0 votes Thank Flag Link Wed Apr 13, 2011
There are loans for families which match your posts. Contact mortgage broker complete loan application go from there.

You receive annual tax benefits owning a home

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Wed Apr 13, 2011
Good Morning Kaybee!

Yes there are. I suggest you call Joyce Coggiola at Huntingdon Valley Bank 215-450-8943 to answer any questions you have. Have a great day!
0 votes Thank Flag Link Wed Apr 13, 2011
Of course there are. But please know that if you plan to use FHA financing, the monthly mortgage insurance is set to increase after this week. If you are using FHA, make sure to get your offer accepted and a mortgage application into a lender by Friday.
We have some great programs for you if you are interested in speaking. In addition, I am now also able to provide you with a free home warranty and job loss insurance at no cost to you.
Ed Fallon, MBA NMLS#144708
Mortgage Originator

Gateway Funding Diversified Mortgage Services, L.P.
300 Welsh Road, Building 5, Horsham, PA 19044
CELL: 610-308-9001
Office: 215-591-0222
FAX: 215-793-8382
0 votes Thank Flag Link Tue Apr 12, 2011
Hi, Kaybee.

Since my background is in mortgages, my advice to you would be to shop 2 - 3 lenders; any more than that will be overkill. Compare rates, fees, and program options (down payment, terms, etc.). I have some referrals for you, if you need them.

I would also suggest that you get pre-qualified, at the least (a pre-approval would be more concrete), before you look at any homes. That way, you'll know for sure that you can buy what you see.

If you need any more help, please feel free to email me.

Lots of luck to you!


Timothy M. Garrity | Brown McKinney Real Estate, Co.
Real Estate Professional & Consultant

tgarrity@brownmckinney.com Email| http://www.brownmckinney.com/tim Website
215-825-2250 x 1007 Office | 267-879-2716 Mobile | 267-318-7004 Fax
0 votes Thank Flag Link Tue Apr 12, 2011
Not only are there great programs, one of my lending partners is offering a program with NO PMI. Please feel free to contact me directly and I will get you in touch with my loan officer. Keep in mind while good credit and a down payment are a huge plus that is not all you need to qualify for a mortgage. You will also need verifiable income etc.!
0 votes Thank Flag Link Tue Apr 12, 2011
Terrific!! I'm happy that you're moving towards owning a home. As I always say there are 5 markets in the world: real estate, stocks, bonds, commodities and futures. In all of these investment opportunities, when you lose the only one you actually win in is real estate because you have something tangible and rentable. When you lose in the other markets you lose poof the money is gone!

I would definitely call Joe with Superior Mortgage. They are fantastic and have closed about 80% of my deals last year.

Good Luck!!
0 votes Thank Flag Link Tue Apr 12, 2011

I am available right now to discuss all your options. Please email me so we can take this discussion offline. Superior Home Mortgage is a direct lender that has been in business for over 20 years.

Joe Cafiero
Superior Home Mortgage
0 votes Thank Flag Link Tue Apr 12, 2011
Thanks for all of the quick responses. The property is in Penrose Park- 19153 and is a short sale so seller assist is not available.
0 votes Thank Flag Link Tue Apr 12, 2011
There are absolutely great mortgage programs out there. 3.5-5% down with terrific interest rates I'm the high 4% to low 5%.

Where is the home that you're interested in purchasing? Do you have a REALTOR helping you? Make sure you ask about maximum seller assist to lower your out of pocket expenses even more.

If I can be of any help call me 215-850-9930.

Ryan Quinn
0 votes Thank Flag Link Tue Apr 12, 2011
Hi Kaybee,
Yes there are! I HIGHLY recommend contacting Joe Callahan, Wells Fargo. www:joewcallahan.com
GO to his website and follow the link to apply....very user friendly or call him 215-913-8581 I refer him to all my buyers. If you need a real estate agent to help you find that home to submit an offer to next week, Please contact me and I can help you get pre qualified and make that offer!!
ReMax 215-385-0523
0 votes Thank Flag Link Tue Apr 12, 2011
Hi Ms. Kaybee,

How are you? Thank you for your inquiry. There are the most popular programs out there for First-Time Homebuyer called the FHA loan, which only requires at least a 3.5% minimum down payment. OR, you can go the conventional loan, which requires a minimum of 5% down payment. We have a very reputable mortgage direct lender who specializes these type of loans and had closed ALL of my clients' deals on time and without any delay! If you're interested, please feel free to email me at Phong.Lam@c21ag.com or call me at (267) 918-1880.

Thank you for your time and I'm looking forward to hearing from you soon! Enjoy your day!

Hope that helps!

***** If you like the answer - please consider giving it a Thumbs-up & making it a "Best Answer" ! Thank you! *****

Best Regards,
Phong Lam, CSM
CENTURY 21 Advantage Gold
2010 Oregon Avenue
Philadelphia, PA 19145
Business: (215) 465-1400, ext. 508
Fax: (215) 336-7793
Mobile: (267) 918-1880
Email: Phong.Lam@c21ag.com http://www.c21ag.com
Professional Profile & Testimonials: http://www.linkedin.com/in/PhongDucLam
To connect with me: http://www.retaggr.com/AddMe/PhongDucLam
Buyers' Info: http://www.facebook.com/TriCountyPhiladelphiaHomebuyers
Sellers' Info: http://www.facebook.com/TriCountyPhiladelphiaHomeSellers

Century 21 Advantage Gold Top 21 Percent Award for 2009!
A referral from you would be the biggest compliment you could give me!
If you're interested, please ask me for your FREE Local Market Report for home values in your area!
0 votes Thank Flag Link Tue Apr 12, 2011
With excellent credit, you can definetly get a good mortgage with 5-10% down. I would be happy to help you out and lay out all your options.

Joe Cafiero
Superior Home Mortgage
533 West Uwchlan Ave
Downingtown, PA 19335
610 594-6611
0 votes Thank Flag Link Tue Apr 12, 2011
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