LIP Low interest program
The "LIP Interest Program" is a specialized program designed to make homeownership even more accessible and without additional costs. Here is an explanation of each of the key elements in the service:
0% Down Payment
(Pago Inicial del 0%)
This program allows clients to buy a home without having to make an initial down payment.
Eliminating the requirement of an initial down payment, makes it easier to gain access to home ownership, especially for those who may have difficulties in raising a considerable sum to make the down payment.
Many times when the initial downpayment is below 20% of the home value, lenders will require Private Mortgage Insurance.
However, the "LIP Interest Program" eliminates the need for this insurance, which can result in significant savings for homebuyers.
No PMI
(Without Private
Mortgage Insurance)
No Closing
Costs
Unlike many other programs which incur closing costs, this program specifically indicates that there are no closing costs.
Closing costs are often a significant part of the costs of real estate transactions. Eliminating them can make the purchase of your home even more viable.
This program offers highly competitive interest rates, starting from 4%.
Lower interest rates can result in lower monthly payments and a more affordable total mortgage cost in the long run.
