First-Time Homebuyers Buying a home is one of the most important financial decisions you will ever make. Fortunately, we can smooth the way and help to get you in your first home sooner than you think. We#ll start by providing the answers you need and explaining all the available mortgage options. And then, whatever your budget, we can help make it easier for you to finance your home purchase. How much can I afford? Lenders usually want your mortgage payment to be no more than 29 percent of your gross income (before deductions). A lower interest rate typically means that you can afford a more expensive home. Do I need a large down payment? Generally, you#ll need at least a 3 percent down payment. We also have products to meet the needs of individuals with limited funds for a downpayment. Whatever your financial situation, we can help you make the right decision. Should I get a fixed rate loan - or adjustable? If you plan to stay in your home for a long time, consider a fixed rate mortgage that "locks in" the current interest rate. If you don't plan to stay too long, or if you intend to refinance at some point, an adjustable rate loan will give you a lower initial rate and payments - but the rate could change. What if my credit isn't perfect? Even if you do not have perfect credit, or if you have previously been turned down, you may still qualify for a mortgage. In fact, we can offer you a wide range of loan options, including specialty programs that may fit your particular needs, based on your current financial situation and lifestyle. What's the first step? Call us to learn more. No matter what kind of home you're looking for or what kind of budget you're working with, we can help you find the best possible mortgage solution. And we can make the process smoother and less stressful with clear information and answers. So take the first step and call us today. Take the first step - call to speak with our Home Loan Professional Jelena Prichard Assistant Vice President (870) 932-3562 [email protected] www.firstcommunity.net PHH Mortgage Corporation, 1 Mortgage Way, Mount Laurel, NJ 08054. Arizona Residential Mortgage Licensee #BK0903164; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act; Georgia Residential Mortgage Licensee #6266; Illinois Residential Mortgage Licensee #443; 310 South Michigan Ave., Suite 2130, Chicago, IL 60604, 312-793-1409; Massachusetts Licensed Lender #ML0060; Minnesota - This is not an offer to enter an interest rate lock-in agreement; Mississippi Registered Mortgage Company; Licensed by the New Hampshire Banking Department; Licensed by the New Jersey Department of Banking and Insurance; Licensed Mortgage Banker - NYS Banking Department; Licensed First Mortgage Banker and Secondary Mortgage Lender by Pennsylvania Department of Banking; Rhode Island Licensed Lender; Licensed by the Virginia State Corporation Commission, Lic. No. MLB- 746. Equal Housing Lender. © 2007. All rights reserved 0676903-08-07

Getting a home loan-as easy as 1, 2, 3

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Page 1: Getting a home loan-as easy as 1, 2, 3

First-Time Homebuyers

Buying a home is one of the most important financialdecisions you will ever make. Fortunately, we cansmooth the way and help to get you in your first homesooner than you think.We#ll start by providing the answers you need andexplaining all the available mortgage options. Andthen, whatever your budget, we can help make it easierfor you to finance your home purchase.

How much can I afford?

Lenders usually want your mortgage payment to beno more than 29 percent of your gross income (beforedeductions). A lower interest rate typically means thatyou can afford a more expensive home.

Do I need a large down payment?

Generally, you#ll need at least a 3 percent downpayment. We also have products to meet the needs ofindividuals with limited funds for a downpayment.Whatever your financial situation, we can help youmake the right decision.

Should I get a fixed rate loan - or adjustable?

If you plan to stay in your home for a long time,consider a fixed rate mortgage that "locks in" thecurrent interest rate. If you don't plan to stay toolong, or if you intend to refinance at some point, anadjustable rate loan will give you a lower initial rateand payments - but the rate could change.

What if my credit isn't perfect?

Even if you do not have perfect credit, or if you havepreviously been turned down, you may still qualify fora mortgage. In fact, we can offer you a wide range ofloan options, including specialty programs that may fityour particular needs, based on your current financialsituation and lifestyle.

What's the first step?

Call us to learn more. No matter what kind of homeyou're looking for or what kind of budget you'reworking with, we can help you find the best possiblemortgage solution. And we can make the processsmoother and less stressful with clear information andanswers. So take the first step and call us today.

Take the first step - call to speak with our Home Loan Professional

Jelena PrichardAssistant Vice President

(870) [email protected]

PHH Mortgage Corporation, 1 Mortgage Way, Mount Laurel, NJ 08054. Arizona Residential Mortgage Licensee #BK0903164; Licensed by the Department of Corporations under theCalifornia Residential Mortgage Lending Act; Georgia Residential Mortgage Licensee #6266; Illinois Residential Mortgage Licensee #443; 310 South Michigan Ave., Suite 2130, Chicago,IL 60604, 312-793-1409; Massachusetts Licensed Lender #ML0060; Minnesota - This is not an offer to enter an interest rate lock-in agreement; Mississippi Registered Mortgage Company;Licensed by the New Hampshire Banking Department; Licensed by the New Jersey Department of Banking and Insurance; Licensed Mortgage Banker - NYS Banking Department; LicensedFirst Mortgage Banker and Secondary Mortgage Lender by Pennsylvania Department of Banking; Rhode Island Licensed Lender; Licensed by the Virginia State Corporation Commission,Lic. No. MLB- 746. Equal Housing Lender. © 2007. All rights reserved

0676903-08-07