RISMEDIA, Oct. 10, 2008-Howard Hanna is selling homes. As Howard Hanna unveils their Fall marketing campaign, “Howard Hanna Sold Mine,” the company says they are selling homes because they have mortgage money available for their customers to buy homes.
“We believe in the markets we do business in and we have mortgage money for people to buy homes” stated Howard W. “Hoddy” Hanna, III, chairman and CEO of Howard Hanna. “We have secured $125 million of financing available for our homebuyers. Interest rates are low and we have the money to lend.”
“Too many people believe they need perfect credit coupled with a 20% down payment to qualify for a mortgage these days,” added Mark Steele, president of Howard Hanna Mortgage. “These same people need to know they can take advantage of today’s excellent home values and should not hesitate because they are concerned about the mortgage market – we have mortgage money available with as little as 5% down,” added Steele.
According to the company, Howard Hanna has always been the leader in implementing innovation in real estate sales servicing their communities better than any other real estate firm in the nation. And now, they have been able to secure a commitment for a minimum of $125 million dollars per month in mortgage money that is designated for the customers of Howard Hanna Real Estate Services to provide residential mortgage financing for home purchases in their local communities. Howard Hanna’s Powerhouse Mortgage program assures that there is no shortage of mortgage money available for qualified individuals. Howard Hanna customers are able to utilize these funds through conventional, FHA, VA, and bond loan programs.
Conventional financing is available with as little as a 5% down payment. Sellers are permitted to pay up to 3% of the sale price towards the buyer’s closing costs. While the credit guidelines on conventional financing have tightened, loans are readily available to borrowers with average credit -that is credit scores of 620 or higher.
Many of the loans recently closed through Hanna Mortgage have been FHA loans. FHA loans allow lenders to be more flexible with damaged credit, require a minimal down payment and allow for a 6% seller assist. Maximum loan amounts vary by county and start at $271,050, ranging upward in our markets to $327,500 (check with your area’s Howard Hanna Regional Finance Manager for your county’s FHA limits). It is important to highlight the basics of FHA financing as it provides a great example of a flexible mortgage program available for our clients who do not have perfect credit or 20% for a down payment to purchase homes.
Howard Hanna believes in the local economy and the stability of the local market.
For more information, call 1-800-474-4437 or visit www.HowardHannaMortgage.com.
