I talk to people all the time who think they may not be in a position to buy because their credit has a few dings or they have not been able to save up money for a down payment or closing costs. But at a recent meeting at our Edmond office, I learned that one lender in particular offers a wide array of home buyer assistance programs specifically tailored to Oklahoma homeowners.
Brett Baldwin presented updated information about Gateway Mortgage’s many home buyer down payment and closing cost assistance programs at a recent RE/MAX Platinum office meeting. Many mortgage companies have some type of first time home buyer program, but as an Oklahoma-based lender who services most of their own mortgages, Gateway offers more than most. They have a huge array of buyer assistance programs for both first time buyers and for buyers upgrading to a newer home, each tailored to fit a particular segment of the market.
According to Brett, setting up a home buyer program requires a lot of behind-the-scenes work for a lender. This typically includes layers of approvals and work by their secondary team, underwriting and closing teams, and IT team as well as training for those involved in originating and processing the loans. Hence, most mortgage companies, especially out-of-state companies with few offices in Oklahoma, typically offer a single “one size fits all” first time buyer program that may help most buyers but likely is not the best option available. As a large Oklahoma-based mortgage lender, Gateway has a heightened commitment to homebuyers in Oklahoma and has taken the time to set up a wide range of home buyer assistance programs. Some are with local nonprofits or county government organizations that provide bond or grant money to help buyers. Others are designated specifically for members of particular Native American Tribes or even individuals working in a particular profession. With several statewide options, and options that may be done with virtually any loan type, Gateway appears to have options for almost any buyer.
What this means to a home buyer is that once a loan officer like Brett is able to talk to a potential buyer, he can choose a program that best suits their financial needs and situation. Brett is passionate about helping everyone he can to buy a home. He can even provide guidance on improving your credit score to help you qualify or just to make sure you pay a lower interest payment over the life of the loan. Credit repair and rebuilding does not have to be tough or time-consuming either. Oftentimes, Brett and his team can provide guidance on how to repair your credit quickly including which bills to pay off first, how to lower the balance on your credit cards yet show that you have good payment history, etc..
So no matter what you think may be preventing you from buying right now – whether that’s credit or setting aside enough money for closing, call me so I can get you in contact with a knowledgeable mortgage professional like Brett to help put you in a position to make your homeownership dreams a reality.