Another great new home loan program from Guild!

Zelda Medina
Sales Manager
NMLS 316261
Guild Mortgage Company
(808) 371-6120

Guild Mortgage has announced the addition of the Guild 1% Program to the list of mortgage loan programs the company currently offers to borrowers.

With the new program borrower(s) are required to put 1% down of their own funds and Guild will be providing the 2% to the borrower as a grant! No gifts are allowed with this program. The 2% grant from Guild is fully forgivable and will come from Guild as a form of gift.

Loan Officer Zelda Medina pointed out that there are certain restrictions pertaining to the Guild 1% Program.

What you need to know about the new Guild 1% program:

• The loan is available only for the purchase of homes that will be owner-occupied

• A minimum credit score of 680 will be required for the borrower to be eligible for the program

• There are no first-time homebuyer requirements

• Homebuyer education is required for at least one of the borrowers

• The loan program is available for both qualifying single family and condo purchases • There are no income limits on low income census tracts

• 100% of Area Median Income limits apply

• No subordinate financing is allowed, although seller credit is allowed; however, borrowers must come in with the 1% of own funds

• Mortgage Insurance is required

• Non-borrower income household members(eih) are allowed, but must provide income documentation and sign a statement confirming they will reside on the property for a minimum of 12 months.

• This Program is a one-time use only

• Mortgage Insurance Credit can be used as income for qualifying

• All loans under this program must close by December 1, 2017

• Guild mortgage company has local processing and local underwriting.

This program cannot be combined with any other specials that Guild is offering.

Medina pointed out that, since 1960, Guild Mortgage Company has been offering creative mortgage loan programs designed to pave the way to homeownership for Hawaii’s people. “Guild lenders understand the market and make it a point to find just the right loan product for potential buyers,” Medina said.

For more information, please contact any Guild Mortgage Branch

Honolulu Branch: 808-744-6420
Kailua Branch: 808-263-4622
Waikele Branch: 808-369-7153
Hilo Branch: 808-933-1095.

This offer is not a commitment to lend. All loans are subject to underwriter approval and applicable program guidelines. Payment subject to maximum allowable lender credit and minimum contribution requirements under applicable loan requirements. Some loans require a minimum cash investment by the borrower, which may limit the amount of any lender credits or payments by Guild under the offer. Please consult your tax advisor regarding any tax implications. All loans must close by July 31, 2017 in order to remain eligible for this offer (case by case exceptions available). Guild Mortgage Company is not affiliated with any real estate company.

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