Are you a looking to finance home improvements and new furniture and want to access cash with a home equity loan but are concerned you wont qualify as a first time home buyer? BD Nationwide can lead you in the right direction to brokers and lenders that specialize in home equity lending for first time home buyers.
We can introduce you to mortgage lenders that offer home equity loans and HELOCs to 1st time homebuyers who moved into their new house within the last 12 months. Most first time home buyers are strapped for cash to finance house repairs or finish the needed landscaping projects but they can afford a monthly payment with an equity loan. Many first time buyers need a home equity loan to consolidate the credit card bills that were maxed out from all the unexpected expenses of homeownership.
Learn About First Time Home Buyer Loans for Cash Out
First time home buyers need every break they can get, because with a new home comes new responsibilities with additional costs. If you recently bought a house, consider a tax deductible equity loan designed for new home buyers.
BD Nationwide Mortgage provides home equity loans to first time homebuyers who have no equity available in their home yet. We offer loans for first time buyers to qualified borrowers seeking debt consolidation and cash out for financing new furniture and possibly home improvements. To qualify you will need a steady job and good credit scores. Full documentation is required for all 1st time homebuyer home equity loans.
First Time Home Equity Loan Highlights
• Credit Fico Scores 680 >
• Cash for Debt Consolidation
• Cash Out for Remodeling and Construction
• No Mortgage Insurance Required!
• Finance New Furniture & Home Repairs
Can I qualify for a 2nd mortgage if I’m a 1st time home buyer and I have only lived in my new home for 6 months?
Yes, there are 1st Time Homebuyers equity loans and HELOCS being approved every day to borrowers that meet the eligibility requirements. However, It is very difficult to find a 2nd mortgage lender who will allow new homeowners to get cash out with an equity loan or second mortgage prior to living in the home for one year. BD Nationwide Mortgage will help you locate lenders that offer HELOC loans for first time homebuyers one day after purchasing your home.
Refinancing your revolving debts and consolidating any adjustable rate unsecured loans is strongly suggested. With all of the new obligation 1st time homebuyers are responsible for it is imperative that you manage your finances and expenses.
At this time there are no bad-credit home equity loans for first time home buyers, but that could change this year. BD Nationwide recommends a free debt analysis with one of our experienced loan officers who can evaluate your liabilities and assets to determine your debt to income ratio.
If it makes sense to roll your debts into a new loan that cuts your expenses and increases your cash flow, then we will recommend it. Remember there are no costs and no obligation whatsoever. If you want to lower monthly payments and lock into a fixed rate equity loan, act now!