I ran into Nancy Soule, a loan officer with GMAC Mortgage, at this week's Realtor Tour Meeting, and she was excited about a new opportunity for veterans. The unique feature of these below market loans is that the borrower need not be a first time home buyer.
The purchase must be a primary California residence, and the veteran may have served many years ago...Think how well this could work for a senior who wants to "move down" and take advantage of the Prop 60 and 90 Tax Base Relief Laws!
The terms are great: zero down payment, assumable financing, and a loan period of up to 40 years.
Important...This program expires in April of 2008!
For more information, contact Nancy at nancy@souleteam.com.
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