I'm a Real Estate Agent looking for mortgage options for clients

5 Replies

Does anybody know of good mortgage options I can recommend to clients. Either really low interest rates or good buy down options or low down payment requirements with no PMI. I want to learn about the different options out there so I can recommend for each clients situation. I would also like to learn about loan programs for self employed or that can qualify on other than income taxes. Please explain your program, current interest rate, closing costs, the more information you can provide the better.

Originally posted by @Renata H. :

Does anybody know of good mortgage options I can recommend to clients. Either really low interest rates or good buy down options or low down payment requirements with no PMI. I want to learn about the different options out there so I can recommend for each clients situation. I would also like to learn about loan programs for self employed or that can qualify on other than income taxes. Please explain your program, current interest rate, closing costs, the more information you can provide the better.

 Hi Renata,

@Robert Gregg might be worth reaching out to. He hasn't posted a while, but he's a lender and on BP, so obviously entertains the wonky scenarios and one-off solutions that are the right fit for that particular client, or he wouldn't be on BP to begin with.

@Renata H. Look at NACA. www.naca.com. $0 down, $0 closing costs, low interest, no PMI, owner occupied only.

The buyer has to do a free workshop, work with a counselor and jump through some other hoops to qualify.

You have to sit through a 90 minute webinar to be eligible to work with them - and you have to register your client on their site BEFORE the client registers themselves. Otherwise, NACA will direct the qualified buyer to another agent.

My experience so far has been poor as a result of the kind of clientele I've sent them.  Between July and December last year, I sent over 30 potential buyers to them.  To date, only ONE has completed the workshop and none have progressed on to the counselor.

If you have a motivated buyer who will follow through, I think the program can work.  That just hasn't been my experience so far.

Hi Charlie, I know alot about Naca, I use to be a mortgage originator for them. It's a great loan, but you have to be very patient and persistent with them and expect the process to take several months. I wish this wasn't the case because its a great program. 

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