08% (60% LTV) with a £999 fee and a five-year fix, also for remortgage, at 5. A guarantor mortgage can be a massive help to get on the property ladder. The Mortgage Conditions form part of this mortgage. Nationwide’s rate cuts mean it will now offer a three-year fixed rate for residential remortgage at 5. Below we have shown the best current fixed-rate mortgage deals for 2 years, 5 years and 10 years. This is certainly possible, but you will need to apply for an expat remortgage. Some lenders will offer 100% mortgages if you have a guarantor supporting you. The interest rates are usually higher, and these loans are aimed at people with a poor credit history or uncertain income, for example self-employed people or those working on 0 hours contracts. Who We Are Founded in 1986, for years GHMC TPO has served as a market leader for the wholesale mortgage community. Tembo specialises in alternative ways to support first time buyers in purchasing their home, even without cash gifts. The answer is yes, you can get protection to cover your mortgage in case of redundancy, though the policy will depend on what you want covered and your personal circumstances. This is a bit pricey; however. Sell the property and split the proceeds (if any) Ask your partner if they would agree to take over the joint mortgage. Guarantor mortgages. 75% is the maximum share of the house you can buy through OPSO, rather than 100% in the standard shared ownership scheme. Our investment in technology means consistently faster turn times, higher quality reports, and fewer underwriting conditions for our lender and broker partners. 21 per cent reduction, its five-year fix at 60 per cent loan to value (LTV) is now priced at 4. 5x Income Mortgage allows first-time buyers to borrow up to 5. If your guarantor doesn’t pay, your landlord can take them to court. You can apply for a Nationwide mortgage online and over the phone. 6 bln in mortgage loans in 2021. 7. Nationwide building society has slashed its fixed rates by up to 0. Homeownership is a big commitment. If your partner agrees, you can sell your share to a third party. Guarantor mortgages guide – Get the best rates, lenders and more in this full guide. I will continue to use it. 4 percentage points. 7. Interest on refinancing for a 30-year fixed-rate loan is. Pass your NMLS test! All of our practice mortgage test questions are carefully crafted by an expert mortgage instructor to meet or exceed the difficulty level of the actual SAFE MLO test. This Guarantee is an important document and we strongly recommend that the Guarantor seeks independent legal advice before signing this Guarantee. The Property is: Postcode: Title No: 1. However, if Nationwide has declined you for a mortgage or you believe they will, it’s not a sign that they are done. A five-year $10,000 personal loan would have an interest rate of 11. Total amount repayable £11,661. 4% in 2023 and 2. Guarantor mortgages; Mortgage application proofs; Mortgage title deeds; Guide to credit scoring; All Nationwide mortgages Charges, rates and terms. 1, 2023, through Oct. Being named a guarantor on a family member’s £500,000 mortgage will certainly concern lenders more than guaranteeing a £5,000 car loan. However, many lenders will want your guarantor to cover the whole loan rather than just the shortfall, so finding a guarantor who’s willing and able to do this can be challenging. Here are the current mortgage rates, as of Nov. Your landlord might want to check your guarantor is able to pay the. Guarantor and Nationwide. The rates are based on LTVs ranging from 60% to 95% – use our loan-to-value calculator to see which applies to. We offer mortgages if you're a first time buyer, moving home, remortgaging and more. This means they agree to repay the total amount owed if the borrower or renter can’t pay what they owe. Traditionally, a mortgage guarantor would be a family member or friend, who acts as a 'back-up' in case the home buyer cannot make the mortgage payments. Can I remortgage on a fixed term work contract? Yes,. 4 percentage points. Mortgage insurance also is typically required on FHA. Login. 35. 429% and the average APR for a 5-year adjustable-rate mortgage (ARM) rose 2 basis points to 8. Once your application has been declined, you can appeal the decision. This means that if one you is unable to pay your share of the monthly mortgage payment, the other. The guarantor for a lease is a person who agrees to enter a lease agreement with a tenant by promising to pay rent on their behalf. A guarantor mortgage is for customers who don’t have enough income to qualify for a mortgage on their own. 34% (85% LTV. 28 February 2022. Best bad credit mortgage rates. They can be a viable option for people with little or no deposit and a blood relative who is ready, willing and able to offer their assistance. Between me and my husband we take over 3. 11. We’re open Monday to Friday 8am to 8pm and Saturday 9am to 4pm. One of these caps is a maximum age for taking out a new mortgage (typically between age 65 - 70), and another for paying them off (usually between ages 80 - 85). This may allow you to afford a more expensive home. Request a call from our Mortgage Experts over the phone, video chat, or face to face. They estimate their lenders mortgage insurance (LMI) premium using Finder's LMI calculator and are shocked to learn they'll. RIOs are very similar to standard interest-only. 1 day ago · Nationwide Building Society will be reducing rates by up to 0. A tenants in common mortgage gives each party a share in a property. See how a guarantor mortgage could help you by creating a personalised recommendation with indicative interest rates and repayments. 32% across two, three, five and ten-year. Verified Customer. We offer: Nearly 100 years of disciplined investing and decision-making. 34% (85% LTV. Tembo advises on a range of guarantor mortgages that could help you buy sooner or boost your budget. The ability to meet the credit score threshold is among the main hurdles renters face. Welcome To Nationwide Mortgage, Inc. The Mortgage Conditions are Nationwide Building Society General Mortgage Conditions 2011 The. Typically, the guarantor has a stronger credit history than the primary borrower, which helps them qualify for a loan. 8 November: Nationwide Steals Top Slot At 4. 00, which includes the interest of £210,713, valuation fees of £0 and. Voted Best Mortgage Broker 2023 & 2022, our award-winning service is available 7 days a week. The average APR on a 15-year fixed-rate mortgage fell 1 basis point to 6. In a nutshell. This shouldn’t be confused with an overseas mortgage which is used to buy or refinance overseas property. Mortgages to suit you. The rates are based on a 60%, 80% and 90% loan-to-value purchase of a property that costs £350,000 where the mortgage is taken over 25 years. 8 out of 5. You charge the Property by way of legal mortgage with payment of all the money payable to us under the Mortgage Conditions. Our Core. We’re closed Sundays and Bank Holidays. Call 1-800-848-6331 for investment/ financial help. Here’s what we found out (correct at 20 July 2021). If the home costs £150,000, you would borrow £150,000. The Mortgage Works, part of Nationwide building society group, is cutting fixed rates on buy-to-let mortgages for limited companies and homes of multiple occupancy by up to 0. 1. have a good credit history. Guarantor mortgages. Pennymac: Best for rate transparency. The Mortgage Conditions form part of this mortgage. You could lose your home if you do not keep up payments on your mortgage. Options like guarantor and joint mortgages will put parents under financial stress if repayments aren’t made; Gifting a deposit. Monthly repayment £194. Most lenders ask for a deposit equal to at least 5% of the cost of the property you plan to buy. The Guarantor consents to registration hereof for execution. credit score. For help, call 0800 470 3740 to discuss your options with our broker partner Fluent Mortgages. The Mortgage Conditions form part of this mortgage. This means that for the average UK home (£365,357) you would need a deposit of around £18,300. If you fall behind on mortgage payments, this person must make them on your behalf. 08% (60% LTV) with a £999 fee and a five-year fix, also for remortgage, at 5. 43%. Finally, you could consider a guarantor mortgage. LTV is a percentage figure that reflects the amount of your property that is mortgaged. Apply by phone. This mortgage secures further advances. That’s because both your finances and those of your guarantor are included when the lender calculates. You can also take advantage of the Better Price Guarantee, which promises to match any valid competitor’s offer and credit you $100 — if they can’t match the price, you get to keep the $100. 34% (85% LTV. All documentation relating to this guarantee must be in writing, and must be faxed to 855-805-6915, Attention: Best Price Mortgage Guarantee. Alternatively, if you're completely. This allows you to maximise your buying potential while keeping full ownership of your property, as. Unfurnished: exclusive to. While there are respected mortgage lenders without any age restrictions, mortgage options start to change in your 50s. Discover has a few faults, however, including long closing times (55 days on average) and a maximum refinance loan limit of $300,000. 6. 63% with the best deal of its kind priced at 5. Navy Federal – Best In-person. e if they need you to be family. Axos’ servicing department is accessible from 8 AM to 5 PM PST, Monday through Friday. The Mortgage Works, part of Nationwide building society group, is cutting fixed rates on buy-to-let mortgages for limited companies and homes of multiple occupancy by up to 0. However, a guarantor only assumes responsibility if the borrower falls into total default. Family-assist. You can apply for a mortgage under the scheme by following our usual application process. Natalie Campisi, Brai Odion-Esene. Qualifying for an apartment in New York is notoriously difficult and some cases, more difficult than qualifying for a mortgage. You could be offered a different rate based on your personal circumstances. Guarantor Mortgage. Availability. The maximum age of the guarantor at the end of the mortgage term is 75-80 (depending on lender). Skipton's 100% mortgage is only available to first-time buyers who have paid their rent in full (and on time) for at least 12 months. 226 ratings Lender details Customer reviews Loans offered Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; interest-only Min. The Nationwide N and Eagle and Nationwide is on your side are service marks of Nationwide Mutual Insurance Company. Remortgages provided past payment history shows a perfect payment record. Leeds Building Society. 99% origination fee with a 15. As such, this mortgage guarantor typically must put up cash or their own home as security on the new home loan. It offers the lender a safety net if they’re not convinced you can afford the mortgage you’re applying for. A joint mortgage looks at the income and assets of all parties on the mortgage application. It is the first time fixed rates. Step 2: Find a guarantor. The remainder of the cost of the property is what you’ll need to borrow from a mortgage lender. But if you’re struggling to save more than 5% for a deposit, we have first time buyer mortgages that may help below. A guarantor mortgage can help you get onto the property ladder if you have a family member who’s willing to support you financially. Features some of the lowest rates in the market and flexible options tailored to your needs. In fact, you can use a guarantor mortgage to. The lender also offers a 0. Call 844-AXOS HOME (844-296-7466) to talk with a Mortgage Loan Originator. Deed of Covenant by Guarantor (Northern Ireland) PDF, 45KB. 62,Topcashback: £177. Bankrate insights on Best Egg debt consolidation borrowers. A couple, who are eligible first time buyers, have a joint income of £50,000, a 5% deposit and no other costs impacting how much they can afford. Jai and Rahda purchase a $600,000 apartment with a 5% deposit ($30,000). Nationwide is one of the least expensive companies in our ratings, taking the No. This directly correlates with term length eligibility. Guild Mortgage – Best for First-Time Homebuyers. These are known as 95% loan-to-value (LTV) mortgages. As of 2023, there are a number of guarantor mortgage lenders offering guarantor mortgages and joint borrower sole proprietor mortgages. The FHA allows you to put as little as 3. The mortgage guarantee scheme (launched in April 2021) is helping to increase the supply of 5% deposit mortgages for credit-worthy households by supporting lenders to offer these products through a government backed guarantee on new 95% mortgages until 31 December 2023. From remortgaging to getting your foot on the property ladder, take a look at our range of mortgages to find what could be right for you. With lifetime mortgages you can. It is essential to do your. They are common in real estate and financial transactions. The mortgage guarantee scheme. This is widely accepted by mortgage lenders, but there are some caveats. Nationwide will allow new buyers to take out loans worth up to 5. For a 95% LTV mortgage only 5% deposit is needed. If your mortgage is with another lender, easily move it to HSBC and you could get a better deal. Banks and building societies normally insist on at least a 5% deposit before they. Can I remortgage on a fixed term work contract? Yes, you can. If the home costs £150,000, you would borrow £150,000. Discover also doesn’t offer. You can apply for a purchase loan or a refinance with Guild Mortgage in person at a branch or via the lender’s website. Mortgage insurance lowers the risk to the lender of making a loan to you, so you can qualify for a loan that you might not otherwise be able to get. 2. You can't apply to change a borrower if: Your property is let. For example, if your house has gone down in value, you could owe more on your mortgage than your house is worth. As mortgage brokers we know which lenders are aggressively marketing to 95% and 100%. The Mortgage Works, part of Nationwide building society group, is cutting fixed rates on buy-to-let mortgages for limited companies and homes of multiple occupancy by up to 0. PDF, 99KB. You confirm receipt of a copy of the Mortgage Conditions. (fixed) for 60 months reverting to 8. These include adding part of or all of your parent's income to your mortgage application as a guarantor through an Income Boost. The guarantor must typically use their savings or their own home as security. First Guaranty Mortgage originated $10. The primary difference between a co-signer and a guarantor is how soon each individual becomes responsible for the borrower’s debt. Property. Find information on Nationwide's forms available to print and download here. So, for an $1,800-per-month apartment. Tracker mortgage - your interest rate is linked to the Bank of England base rate. Nationwide auto insurance quotes and costs. For instance, sometimes, the guarantor will have to use money in a savings account or their property as a guarantee. , we treat each customer as an individual, not a number. If don’t have a deposit or a helper to put forward savings you can speak to a Tembo mortgage expert to find out more about our Deposit Boost. 4 percentage points. Guild Mortgage – Best for First-Time Homebuyers. 5 and six times your annual income. The $9. NerdWallet's Best Mortgage Lenders for Bad Credit Home Loans of November 2023. Often, parents will act as guarantors for their. A good guarantor fills in the gaps where you may be lacking in the eyes of the landlord. The company is headquartered in Chicago, and it offers multiple types of home loan financing, including: Conforming conventional loansIf you borrow £178,000 over a 25-year term at 5. As house prices have skyrocketed, a new generation of homeowners have found themselves priced out of the property market. Guarantor loans help people with poor or no credit secure a loan, such as a type of personal loan, a mortgage, or an auto loan. 36% APR. Typically, borrowers making a down payment of less than 20 percent of the purchase price of the home will need to pay for mortgage insurance. It’s available for buying a property that will be your only home, and you’ll need to submit your mortgage application to us by 31 December 2023. A spokesman for Nationwide says brokers can still use the TMW brand. Here, someone you trust commits to paying your mortgage if you can't afford it anymore; A lifetime mortgage. The Mortgage Works, the specialist lending arm of Nationwide, is launching a range of guarantor mortgages which allow guarantors to set different levels of liability. On Trustpilot, Nationwide has a rating of 1. Call 888-546-2634 . This means the person applying for the mortgage can do so with little or no savings Tenants-in-common mortgage: borrowers each buy a share of a property, which they can sell independently of the other tenant owners. Edited By. Whether you’re a first time buyer or looking for a better deal, we can help you find a mortgage that’s right for you. Find a mortgage expert in your region. homer_j_3 Forumite Posts: 3,266 Forumite. Nationwide Mortgage Licensing System (NMLS) Summary of Money’s Best Mortgage Lenders of November 2023. Our dedicated team of customer care professionals are here from 8am-9pm EST, and. 06% APR. Guaranteed Rate: Best for first-time home buyers and HELOCs. Better Mortgage – Best for Fast Closing Time. Nationwide homeowners claims. Property 1,702,060 ads. A guarantor mortgage could help it to purchase a house if your income alone does not qualify you on do so. However, having a guarantor means you may not need to stump up any deposit. A guarantor loan is a guarantor agreement you would have with a close family member or close friend to get you a mortgage for a property if you are struggling to do so yourself. Updated: 08:04 EDT, 27 March 2017. Your family member or friend puts 10% of the full property value into a savings account with the mortgage lender. 4% with the cheapest on the market for a five-year fixes coming from Nationwide at 5. Discover also doesn’t offer government-backed refinancing. How to apply for a mortgage with Guild Mortgage. In order to see the latest mortgage deals you should use our mortgage comparison tool. We’re the largest mortgage provider to offer 95% Loan to Value (LTV) mortgages without using the Government’s mortgage guarantee scheme. But a 100% mortgage means you don’t need to pay any money upfront to get a home. Mortgage refinancing rates When refinancing your mortgage, you’re replacing your existing mortgage with a new mortgage. You would receive $9,301 and make 36 scheduled monthly payments of $322. A guarantor is a third party who ‘guarantees’ a loan, mortgage or rental agreement. Interest-Only Mortgage. 45. A five-year $10,000 personal loan would have an interest rate of 11. It is possible to secure a joint mortgage when one borrower is a UK national and the other is a non-UK citizen, although the number of lenders offering this. On Google Play. Further advances for home improvements. Guarantor mortgages are designed for those who do not meet the lending criteria for a standard mortgage. By guaranteeing the agreement, you become responsible for any arrears that occur. The figure is the ratio of a home loan relative to a property’s value. In this arrangement, the guarantor takes on considerable risk and bears. Get an estimate of interest rates and monthly repayments for our personal loans. Woolwich has a Family Springboard Mortgage that requires a 5 per cent deposit. Law Firms. Get a loan estimate;secured by the Mortgage unless and until all money secured by the Mortgage has been received by the Society in full. Leeds Building Society. The cost of a homeowners insurance policy with Nationwide varies based on coverage level, your home’s location and the deductible limit you choose. Nationwide guarantor mortgages typically come with strict underwriting criteria, a capped loan-to-value (LTV) ratio of 85 per cent, and strict underwriting requirements. The new rates include: New customers moving home: reductions of up to 0. Mortgages with different loan-to-value (LTV) - we offer relatively high LTV mortgages, including 95% mortgages and 90% mortgages. As with any type of mortgage, there are advantages and. Reach out anytime. The scheme follows on from the successful 2013 Help to Buy: Mortgage. Mortgage guarantors are different for many reasons. Nationwide offers fixed rate and tracker rate mortgages to first-time buyers, home movers and homebuyers looking to remortgage. 75% of the initial loan amount and is rolled into the amount financed. PDF, 31KB. Mortgage payment protection insurance (MPPI) is commonly referred to as either mortgage cover for redundancy, mortgage redundancy insurance, or mortgage. Nationwide dedicates it’s resources to serving the needs of our renters and landlords with the upmost professionalism, quality service and unfailing attention to detail. From Conventional, Jumbo, FHA, VA, Rural Development, Tennessee Housing, and our new Choice down-payment. It's a particularly good option for buyers. Your family member or friend puts 10% of the full property value into a savings account with the mortgage lender. We’re offering 95% loan-to-value mortgages with a. Add your details and Mojo will help find the right mortgage deal for you. Best Mortgage Lenders Of November 2023. This 2023 review of Nationwide includes customer satisfaction, complaints and policy options for auto insurance. Banks and building societies normally insist on at least a 5% deposit before they. New lenders from early 2023 with other options that have a low overall cost! Do Nationwide do Pensioner Mortgages? Yes, Nationwide Pensioner Mortgages are 1. We can provide help with all manner of family-assisted, shared mortgage arrangements, to help you secure that dream home for a loved one, from gifted deposits to guarantor mortgages and even. To be a guarantor you’ll need to be over 21 years old, with a good credit. S. The singular shall include the plural and vice versa and where two or more persons constitute “the Guarantor” covenants by the Guarantor shall be deemed made by them jointly and severally. Other Nationwide services. Retirement-interest only mortgages (RIOs) are a relatively new set of products designed to help older borrowers who may struggle to get a standard residential mortgage. Your mortgage will continue to have three or more borrowers. 00. If you want to help your child buy a home but don't have enough savings to give or lend them the cash, there are several options you can consider. Nationwide; Barclays; Mansfield Building Society; Vernon Building Society; The Loughborough Building Society; Family Building Society; A. Mortgage options for parents who want to help first-time buyers. This enables homebuyers to secure a mortgage with a 5% cash deposit, with the government underwriting 95%-mortgage loans. A. You have the option of a video call if you prefer to have a face-to-face meeting with our mortgage advisers. A bad credit score. The benefit of being a guarantor vs co-applicant is that the mortgage wouldn’t show up on your credit report and have no impact on your financial capacity. A Joint Borrower Sole Proprietor mortgage gives people who don’t quite have the income or financial capacity to get a mortgage on their own, get onto the property ladder with the support of a trusted person’s income on the application. Although it can be difficult to accept a loan, you may still have options. June 6, 2023 • @jasonweaver129. It works by securing. With a Buy for Uni mortgage, a student can buy a house in their own name with a mortgage of up to 100% of the property’s value. AN bondsman hypotheken could help you till purchase adenine house if your generate alone does nope qualify you to do so. Its headquarters are in Swindon, England. The combination of incomes could increase your lending limit. 1, 2023, through Oct. Nationwide offers the following products for customers with guarantors, where there is insufficient income: New mortgages for house purchase. The company blamed a collapse in the secondary market for mortgage refinancing and. With a joint mortgage you borrow money to buy a home with someone else, like your partner, friend or a relative. Conditions apply. Guarantor Mortgages. A guarantor mortgage is a mortgage that allows someone (usually a close family member) to be listed as a guarantor on your mortgage loan, in case you are unable to keep up with the mortgage. The figure is the ratio of a home loan relative to a property’s value. Step 2: Consider looking for a guarantor that you trust and who trusts you. Their money is held for 5-years as security against your mortgage. These guarantor deals allow parents to deposit 5% or 10% of a property's value into a special savings account with their child's mortgage lender, taking the place of a standard mortgage deposit. 99%. We’re legally obliged to assess the value of a property for mortgage purposes, which may not always involve a physical inspection of the property. For help, call 0800 470 3740 to discuss your options with our broker partner Fluent Mortgages. The Mortgage Works, part of Nationwide building society group, is cutting fixed rates on buy-to-let mortgages for limited companies and homes of multiple occupancy by up to 0. A guarantor mortgage can let you borrow more than with a standard mortgage as you can borrow up to 100% of the property’s value rather than just 95% - generally the maximum allowed by mortgage. Auto Insurance Study. However, tight budgets and low wages can make it difficult to qualify for a mortgage with a high principal. The mortgage was over 30 years and it was about 1350 per month we were quoted. When mortgages are unsubsidized, the cost of providing a credit guarantee is offset by the fees charged to investors, and those guarantee fees are passed on to borrowers. In the vast majority of cases, however, individuals can only guarantor one loan at a time, especially if it’s a high-value loan such as a mortgage. NHG is a guarantee provided to the mortgage lender (for example the bank) by a government-backed foundation, the Homeownership Guarantee Fund (Waarborgfonds Eigen Woningen or WEW). Thrive operates in several states, including Texas, Ohio, Colorado, Kentucky, North Carolina, Kansas, Virginia, Florida, Maryland and Indiana. Apply by phone. And you’ll get £500 cashback when you complete a mortgage with us too. Nationwide building society has slashed its fixed rates by up to 0. Caret Down. Loan agreed: The terms of the loan, including your interest rate, the term of the loan and the amount borrowed are all. The mortgage guarantee scheme was launched in 2021 to encourage more lenders to offer 5% deposit mortgages. Nationwide’s rate cuts mean it will now offer a three-year fixed rate for residential remortgage at 5. A 15 per cent deposit means access to Virgin Money’s two-year fixed rate of 2. Yes, Nationwide Building Society does lifetime mortgages at 2. 61% with 0. There are different ways they could do this, so while you could borrow money from a parent or accept a large cash gift. A guarantor mortgage can be a massive help to get on the property ladder. com A guarantor mortgage is a type of mortgage where the buyer's parent or another close family member agrees to financially guarantee the new mortgage. And you’ll get £500 cashback when you complete a mortgage with us too. 1. It’s wise to only agree to being a guarantor for someone you know well. 96, Prolific: to 31/8/23 £663. 99% MER when you are over the age of 70. You may see 95% mortgages described as '95% LTV'. To talk to a loan officer. Remortgage. This means if you're self-employed, you're at risk of wasting a mortgage application on a cautious lender – and too many rejections can be a cause for rejection in its own right. Mortgage refinancing rates When refinancing your mortgage, you’re replacing your existing mortgage with a new mortgage. A joint mortgage is when you apply to borrow money to buy a home with someone else, like your partner, a friend or a relative. Laid off 80% of its workforce. Better Mortgage – Best for Fast Closing Time. But a 100% mortgage means you don’t need to pay any money upfront to get a home. For example, on Oct. Book a call. You will be charged a mortgage guarantee fee for an NHG. Guarantor: A guarantor is a person who guarantees to pay for someone else's debt if he or she should default on a loan obligation. It means 'loan-to-value' and is the percentage of the property's value that's being covered by the mortgage. Why It Made the Cut: PNC Bank offers customers a closing grant of up to $5,000 for qualified buyers, which can make a huge difference in the costs a first-time home buyer is responsible for at. Zero-hours contract mortgages: Halifax, Lloyds, Nationwide and more. ) can alter the costs of running your home and paying back your debt. Your home may be repossessed if you do not keep up repayments on your mortgage. 11. You can apply for a loan of between £1,000 and £25,000 over 1 to 7 years. You can apply for a Nationwide mortgage online and over the phone. 04%. Early Repayment Charges; Standard and Base mortgage rates; Mortgage fees and charges; Get an annual mortgage statement; Bank of England base rate changes;The typical maximum age limit on mortgage products is between 70 and 95, depending on the lender. Since 1986, GHMC TPO and GoGuaranty Home Lending have served as market leaders in residential mortgage lending. g. For first-time home buyers seeking a conventional loan, Fannie Mae and Freddie Mac offer the HomeReady and Home Possible mortgage products, respectively. The upfront fee is currently 1. Minimum age 18, UK residents only. Find out everything you need on the journey to owning your own home.