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  • Comment Detail

  • Date: 06/21/24
    First Name: Michelle
    Last Name: Thomasser
    Email: mthomasser@abilitymortgage.com
    Organization Type: other
    Organization: Ability Ambeck Mortgage

  • Comment

    As a Mortgage Loan Advisor, one thing we can do easily to assist with affordability is to offer a 40 year loan to first time home buyers. Preferably FHA since conventional is harder on first time buyers with higher rates and higher MI.
    FTHB are not normally in that first loan long but it helps them get in with lower monthly payments and they can start building equity.
    Monthly payment right now is a bigger barrier to buying then down payment or closing costs.