One Loan product only; 30 year fixed. No credit score. Interest rate always below any bank or mortgage lender.

On August 22nd 2011 was starting at 3.875% No Points 

Do I have your attention? 

Welcome to the Matrix. I’m Morpheus and you are Neo. Do you want the Red Pill or the Blue Pill. Red Pill-keep reading so you will understand. Or do you want the Blue pill and you can skip everything after this and return to experiencing the system as you know it.

The American Dream of Home ownership is still alive. Our economy, the banks and our government has not been to friendly to us over the last few years so this is one program that for many of you provides some hope for homeownership that you thought was out of reach. This loan will save you thousands of dollars over the life of your loan. It will allow you to keep your down payment money and the lender pays the closing costs.  Is this Americas Best Mortgage Product?  You have to decide for yourself.  It will allow you to purchase more home for your invested dollars. For some of you it won’t. That’s why I tell everyone about it. 

 I am not the lender. I am a Real Estate Agent and Broker. I do not originate mortgage loans or have an affiliation with any lender. My job is to know where to go to help you my clients get the best loan product for your situation. I receive nothing from any lender other than they provided a service to my clients they needed. I only make money when you buy a home with me. I only ask that you remember who brought you to the dance.

This program is good for any property under $204,250. I brief all my sellers on the program and I have investors and homes for sale who promote this program on their homes.  Once you know about the program you will get behind it too! The financing applies to any home but my investors and some of my sellers will make sure you have an interest rate in the low 3′s! 

Red Pill Questions and Answers:

Q: Why has no one told me about it?
A:No bank or mortgage company offers this unique program so why would they tell you about something they can’t offer.

Q: Why has my agent not told me about this program?
A: Some know about it, some don’t. It takes a little longer to get through the program so they steer people away from it?

Q: Why do you promote this program?
A: If this is the best product for my clients then this is where I want them to be? I help them get through faster then they might on their own.

Q: Why didn’t I see it in any advertizing?
A: They are a not for profit organization with 2 missions. They spend no money on advertizing so more funds are available to their members.

Q: Can anyone do this loan?
A: Yes! As long as you only have it as your primary residence and it is within 75 mile radius of the office in Kansas City. It is available in other parts of the country.

Q: Is this a government program?
A: No! That is why it works.

There is so much more and information is free. Read below to see the highlights of the program. If you are interested then call me or send me an email from www.NoDownPaymentKC.com. This is my web site not the lenders. I provide this a service and a way for people to contact me about the program. I will tell you what others won’t! Everyone is eligible as long as you don’t own another property. Mortgage Financing is a maze and you don’t want to make a wrong move.

“Americas Best Mortgage”  

Program Highlights
✯No Down Payment – 100% Loan To Value
✯No Closing Cost – Lender pays your closing costs
✯No Credit Score – No Score required-
✯No Income Limit – Doctors do this program
✯No Mortgage Insurance – Allows you get more house
✯30 Year Fixed Rate – Only 30yr fixed – NO adjustable Rate.
✯Max Loan $204,250 – Max Sales price, Max loan amount
✯Where – 75 mile radius of Kansas City both KS & MO
✯Below Bank Rates – Interest rate is .25-.50 below any other bank
✯Not Gov. Program – Operated through a Not For Profit 501c3
✯Average Interest Rate in this office is 2.9%
✯Save Thousands $$$ – Affordable payment vs Down Payment
✯$10 Billion available – Not limited to just a few!
✯Ask Me How I can do this and save thousands!
✯Seminar Starts every other Saturday 9-12 (No Short Cuts)
✯Not limited to first time home buyers

If you have perfect credit or challenged credit this program could be for you if the home you want is under $204,250 and is within a 75 mile radius of the Greater Kansas City Area -Missouri or Kansas.

You don’t have to be a first time home buyer but you can only own 1 home. You can sell your home in the morning and close with your new loan in the afternoon.

This program is offered through Neighborhood Corporation of America. NACA.com. I help you get through “The Matrix” with the goal of being your Real Estate Agent when you purchase.

I provide Real Estate solutions to my clients. My 19 years in Real Estate and mortgage lending has given me the Experience, Knowledge and Resorces to help you find the best home and mortgage product available that fits your needs. I work with several lenders with different programs and niche products. This is just one of those Niche products but it is a GOOD ONE!

If you are buying under $204,250 then look at this program to save thousands over an FHA, VA or Conventional Bank Loan. There are some special features that other companies and banks can’t offer you.

“The largest investment is not the home! It’s your mortgage!”

Check it out! www.NoDownPaymentKC.com or call 888-866-09373 or my cell 816-682-1608

The missing piece in all of this is the private sector affordable housing plan.  A feasible plan for affordable housing is necessary to make the Schools First Initiative a success. “To build a safer community where children can walk to school”; we would first need to build up the community itself. Neighborhoods and individual homes or this initiative may not get off the ground.  I know the Mayor is working on this; however, I wonder if it would be easier to get the monetary support needed for infrastructure when the public see’s homes being repaired and changed from vacant/abandoned to families living in them.  Once they see the homes coming back then support to pay for services will be more forthcoming and our citizenship will be more enthusiastic about the “Schools First” initiative.  I fear now we have more verbal support vs actual dollar support arguments. Where would this money come from?

Money for improving the housing stock can come in the form of assumable FHA loans.

The Magic Bullet-The Investor 203k.

• What is a 203k? 203K  Power Point Presentation The FHA Section 203(k) program is the HUD’s primary program for the rehabilitation and repair of single family properties. It is an important tool for community and neighborhood revitalization and for expanding homeownership opportunities. Since these are the primary goals of HUD, the Department believes that Section 203(k) is an important program and we intend to continue to strongly support the program and the lenders that participate in it.
  Advantages:
  * Bring these homes back on the tax roles
  * Provide quality Affordable Housing
  * Stimulate the Local Economy
  * Increase Home Ownership
  * Improve Neighborhoods
  *Utilize private sector to perform the task
  * No COST to the City, County, State or Federal Government

Here is some Background:

When our economic engine was moving at full speed HUD stopped this program by putting a moratorium on it because  of abuse in certain areas. Someone abused it so it was stopped for everyone. Like most government legislative and regulation actions they in essence “throw the baby out with the bath water!” I used this program in the mid 90′s in and around the inner city. It was a great success because we totally rehabbed the property, made it safe and energy efficient and put people in good FHA loans with a fixed payment. A fixed payment is needed for most if not all low to moderate income families. People were working, money was being made and this was a program that I know improved the inner city and motivated people to stay in the city.  Before this program was put on a moratorium it was a great vehicle to help keep home owners in the inner city. Stopping the 203k for investors helped support and spur the “Sub-Prime” industry especially in low to moderate income communities.

Then, Wall Street started the Sub-Prime Loans to fill gaps and find a mortgage programs to compete with FHA loans. When they put the moratorium on the 203k; the Sub-PrimeLoan was designed  to capture the low to moderate income buyer and steal their equity every two to three years when the loan  adjusted to a much higher interest rate. The goals here were to keep refinancing the home with initially easy qualifying standards. The loan would adjust significantly after 2-3 years forcing the consumer to either pay higher interest or refinance and give up equity immediately to have a normal payment. Either way Wall Street was going to make money in the mortgage industry. One of the unsung hero’s was FHA because it was a safer loan for consumers, but since the Sub-Prime Loans were so easy to obtain they became the loan of choice over an FHA loan. Now in 2010 after the implosion of the Sub-Prime Industry FHA is again the loan of choice for most lenders and buyers.  They now finance about 70+% of all loans.

One of the best FHA programs especially for the inner city was the investor FHA 203k program. It gave omeowners a chance to have a completely renovated home, at current market rates, and on a fixed rate vs the sub-prime adjustable rate.

Now  is time to bring this program back coupled with the “Schools First” initiative we can bring back people to the urban core. This program allows investors to secure the FHA loan first, repair the home and allow consumers to assume the loan. By Assuming the loan the buyer only has to take over the payment and not have to come up with a down payment. Down payment and closing costs are a major obstacle especially in the low to moderate income home buyers.

AW Pickel President of Leader One Financial says that “affordable housing is the key to making this initiative work” and he sites several studies supported by Fannie Mae including “Increasing Access to Low-Poverty Areas by Creating Mixed-Income Housing” by Diane L. Houk, Erica Blake and Fred Freiberg

“Increasing Access to Low-Poverty Areas by Creating Mixed-Income Housing. 2007. By Diane L. Houk, Erica Blake, and Fred Freiberg. New York: Fair Housing Justice Center.
This report examines 12 case studies of mixed-income housing located in low-poverty neighborhoods that previously lacked affordable housing options. The authors find that the factors most likely to spur mixed-income development in low-poverty neighborhoods are supportive state or local policies, land acquisition opportunities, the desire to create mixed-income housing as a community development strategy, and fair housing remedy mandates. Recommendations include expanding development and litigation tools and strengthening infrastructure for mixed-income housing.”

Call and write the Mayor and your congressman and help us advocate for this change that could help turn around the housing industry as well as boost the economy.  Subscribe to my blog to keep up with these important initiatives.

Steve Hillyer