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Homeownership Attainable with NuVision's Loan, Rebate Program

Getting ready to buy a house but having problems coming up with enough funds to meet the new down payment requirements? NuVision has mortgage solutions that can help potential home buyers with lending requirements that are more complex due to current economic conditions.
  • Traditional home mortgage loans now require a strong credit score and 20% or more down.
  • The stringent financial and credit history requirements have discouraged potential home buyers from achieving their goal of home ownership.
  • NuVision recognizes that members need help acquiring the funds for a down payment. Not only do we offer FHA loans, but we have also created the 80/10/10 home loan to give members a choice.
Many prospective home buyers have opted for Federal Housing Administration (FHA) mortgages to overcome the daunting task of acquiring a 20% down payment.
  • Not only do current FHA lending guidelines require a minimum down payment of only 3.5%, the borrower's credit rating doesn't have to be as strong as a traditional home loan, and FHA loan recipients may enjoy the same interest rates as traditional mortgage loan recipients.
  • However, there are also accompanying restrictions and the FHA loan program is primarily geared toward first time home buyers.
  • Additionally, monthly mortgage payments can be more expensive because Private Mortgage Insurance (PMI) is required under this program.
NuVision's 80/10/10 may be the solution for you!
  • The 80/10/10 home loan provides all the benefits of a traditional mortgage loan with half the initial investment because a home buyer is only putting 10% down, and half of that can be in the form of a gift from family members.
  • The remaining 90% of the principal amount is divided into an 80% first mortgage and a 10% equity loan.
  • Not only can your monthly mortgage payments be less expensive, you also can get up to a $400 Mortgage rebate when you fund your home loan through NuVision.
Getting started is as easy as calling us at 800.444.6327 or visiting nuvisionfederal.org!

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