Golden Mortgage – NJ & NY First-Time Homebuyer Loans

Welcome to Your First Home Homebuyer Mortgage Program!

At Golden Mortgage Corporation, we understand that buying your first home is a milestone filled with excitement and questions. That's why we specialize in First-Time Home Buyer Loans, tailored to make your journey to homeownership smooth and stress-free.

Why Choose Us?

  • Expert Guidance: Our team of experienced mortgage brokers is here to guide you every step of the way.
  • Competitive Rates: We offer competitive rates and terms to fit your financial situation.
  • Simple Process: Our streamlined application process makes getting your first mortgage clear and straightforward.
  • Personalized Solutions: We take the time to understand your needs, ensuring a loan solution that’s right for you.

First-Time Home Buyer Loan Features:

  • Low Down Payments: Options starting as low as 3% down. Can be 1% down with Lender contributing 2% to down payment*.
  • Flexible Credit Requirements: We offer solutions even if your credit history isn’t perfect.
  • Down Payment Assistance: Ask about programs that can help with your down payment and closing costs.
  • Fixed & Adjustable Rate Mortgages: Choose the type of loan that best suits your financial goals.

Getting Started is Easy:

  1. Free Consultation: Schedule a no-obligation talk with our mortgage experts.
  2. Pre-Qualification: Find out how much you can afford and what your payments might look like.
  3. Loan Application: We’ll help you with every step of the application process.
  4. Approval & Closing: Our team works hard to get you to the closing table quickly and efficiently.

* Program Overview:

  • This is a lender-paid down payment assistance grant [1]
  • Allows income-qualified borrowers to put 1% down, with Lender contributing an additional 2% toward the down payment [1]

Key Product Details:

  1. Eligibility Requirements:

    • Purchase only (not for refinance)
    • 620+ FICO score
    • 97% LTV required
    • Income at or below 80% of the Area Median Income (AMI)
    • Follows Home Possible® and HomeReady® Guidelines [2]

  2. Down Payment Structure:

    • Borrower pays 1% of the down payment
    • Lender pays the lesser of 2% or $7,000 of the down payment
    • Total down payment reaches 3% [2]

  3. Additional Program Parameters:

    • 30-Year Fixed primary purchases only
    • Loan amounts up to conforming loan limits
    • Eligible for LPA or DU Automaed Underwriting findings
    • Temporary rate buydowns available

Benefits for Borrowers:

  • Get into a home sooner
  • Use additional funds for other expenses like furniture or moving costs
  • Potential to buy down interest rate for long-term savings [2]

Special Note for VLIP First-Time Homebuyers:

  • Those at 50% or less of AMI receive a $2,500 pricing incentive
  • This incentive is combined with the 2% down payment contribution, not in addition to it [1]

To learn more about the first time mortgage process and how to prepare for your new home purchase, call us at 877-539-1697 or 908-722-9217.  We look forward to helping you.

Apply Now!