Oklahoma's Number One Home Builder

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Your New Home Financing

Home Creations is proud to have JMR Mortgage, a subsidiary of First Mortgage Company, offer your new home financing. Should you select JMR Mortgage for your FHA, VA or conventional mortgage, Home Creations will pay your basic closing costs. You would then be responsible for a down payment, if one is required, and your pre-paid items (property taxes, homeowner's insurance and interest).

JMR Mortgage

(405) 793-1964 2236 N. Broadway

Peggy Luster, Mortgage Consultant Moore, OK 73160

Jackie Whitaker, Processor Fax: (405) 793-1649

Down Payment Assistance

For home buyers needing help with their FHA loan down payment, Home Creations teams up with a company called PreferredProgram. This company provides buyers their three percent down payment funds at closing, with no obligation of repayment. Here's how the program works:

1. Buyers going through PreferredProgram agree to increase their purchase price by three percent (the amount of the FHA down payment) plus a $200 administrative fee.

2. Buyers qualify through one of our preferred lenders for an FHA loan based upon their income and credit obligations

3. Unlike some government bond money programs, PreferredProgram has no first-time borrower requirements, no inflated interest rate and no pre-payment penalties. If you qualify for an FHA loan, you are eligible to use PreferredProgram down-payment funds.

FHA, VA & Conventional Financing

There are three types of home loans available to buyers: FHA, VA and conventional. Here are short summaries of each type of loan. For more details, please consult one of our preferred lenders.

FHA: Down payment is 3% of the purchase price

FHA with down payment assistance: The 3% down payment comes from PreferredProgram. The purchase price is raised by three percent plus a $200 administrative fee for borrowers electing to participate in this program.

VA: No down payment is required. VA buyers may finance 100% of the purchase price. Borrowers who have served in the armed services may be eligible for VA benefits.

Conventional: Down payment is 5% of the purchase price. Borrowers with exceptional credit scores may be eligible for 97% - 103% conventional loans, which sometimes have higher interest rates.

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