Your First Down Payment

USA Today reports on the unusual measures to which some home buyers are resorting, in order to purchase their first home.

Cautions the article:

The tighter mortgage market is not only shutting out borrowers with weak, or subprime, credit ratings. It's also putting pressure on first-time borrowers, who sometimes share financial characteristics with subprime borrowers: meager savings, a new job and a brief credit history (which, in effect, is equal to a poor credit history). They also may have relatively large debts, such as a car loan or student loans, which can reduce the amount that a mortgage lender will give them.

Unlike the people featured in the article, you don't have to go to work in Baghdad, cash out your 401K, or move back in with your parents to get the money to purchase a property. Compass Mortgage offers a number of no-money-down programs. Call us today at (603) 472-2272 or visit www.CharleyFarleyHomeLoans.com.

Source: USA Today