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Don’t Let Subprime Loans Unravel Your Dream

An FHA Home Loan, Combined with Down Payment Assistance Opens Door To Homeownership!

Gaithersburg, MD - First-time, and low-and-moderate income individuals and families who have their hearts set on becoming homeowners this year, shouldn’t give up hope just because the subprime mortgage industry has unraveled.

Instead, they should focus their attention on long-standing leaders in affordable housing – the Federal Housing Administration and AmeriDream, Inc.

Most homebuyers have heard about FHA insured loans (the government agency has been around since 1934). But with lenders pushing more exotic subprime loans, FHA took a back seat as a mortgage option for many homebuyers.

Now with subprime loans running into serious trouble, FHA is staging a comeback and giving homebuyers a better alternative to exotic high-cost mortgages. And with more homebuyers looking for loan options that required little or no money down, an FHA-insured loan combined with a gift from a nonprofit organization, like AmeriDream, is the perfect choice today for individuals and families trying to achieve the dream of homeownership.

“We believe that every family in America deserving to achieve the dream of homeownership should have the opportunity to do so,” said AmeriDream CEO & President Ann Ashburn. “Our goal is to remove one of the biggest barriers to homeownership – funds needed for a mortgage down payment. We do it by providing down payment assistance to low and moderate income individuals and families.”

Since 1999, AmeriDream has helped over 200,000 individuals and families who qualify for a mortgage loan but lack the money they need for down payment and closing costs become homeowners.

The AmeriDream Downpayment Gift Program is available nationwide to qualifying homebuyers.

FHA insured mortgages offer many benefits and protections:

Easier to Qualify: Because FHA insures your mortgage, lenders may be more willing to give homebuyers loan terms that make it easier for you to qualify.

Less than Perfect Credit: Homebuyers don't have to have a perfect credit score to get an FHA mortgage. In fact, even if homebuyers have had credit problems, such as a bankruptcy, it's easier for them to qualify for an FHA loan than a conventional loan.

Low Down Payment: FHA loans have a low 3% down payment and that money can come from a family member, employer or charitable organization as a gift. Other loan programs don't allow this.

Costs Less: FHA loans have competitive interest rates because the Federal government insures the loans. Always compare an FHA loan with other loan types.

Helps You Keep Your Home: The FHA has been around since 1934 and will continue to be here to protect you. Should a homeowner encounter hard times after buying a home, FHA has many options to help owners keep their homes and avoid foreclosure.

Don’t rule yourself out of homeownership in 2007! AmeriDream’s Downpayment Gift Program used with FHA can get you on your way to achieving the benefits of homeownership with the protections of FHA.

To learn more about down payment programs, contact a lender or real estate agent or visit AmeriDream’s web site at www.ameridream.org.

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