At the cornerstone of Howard Hanna Real Estate Services’ company culture is the belief that the American Dream of home ownership is accessible to everyone. Recently, Howard Hanna launches a program geared towards helping those who are new to purchasing a home.
“Howard Hanna Mortgage Services is pleased and proud to announce the My First Home program. This innovative program is designed to target first time buyers and specifically Millennials, those born between the early 1980s and the mid–to–late 1990s, one of the nation’s fastest growing segments of homebuyers,” says Mark Steele, President of Howard Hanna Mortgage Services.
“With the My First Home program, our message is that one does not need 20 percent down, thousands in costs and a top credit score to own a home,” added Jim Axner, Howard Hanna Midwest Mortgage Sales Manager. “Rising rents and interest rates at historic lows make owning a home today a wise financial move. Build your own equity and not contribute to someone else’s.”
According to the recent National Association of REALTORS Home Buyer and Seller Trends study, the share of first time homebuyers has fallen to its lowest level since 1987.
“First time homebuyers have been very active during the first quarter of 2015 as Howard Hanna real estate agents report an increase in showing homes for first time buyers,” says Steele. “But they have to be able to finance their purchase if they find a home they like.”
Howard Hanna Mortgage Services created the My First Home program to help these borrowers finance many of the closing costs associated with purchasing a home, making it easier and more affordable to become a homeowner. This program is available to homebuyers who have not owned a property within the past three years and is offered in conjunction with a 30-year fixed rate FHA mortgage.
In addition to the special financing package, the My First Home program will be explained to potential buyers by first time buyer advocates, Howard Hanna Mortgage Loan Originators. “We will thoroughly review the mortgage process, explain what terms such as points are and what it means to lock, and when you should do it. We understand that buyers, especially Millennial buyer, work hard for their money and want to be respected for that,” added Steele.
For more information, visit www.HowardHanna.com/FirstHome.