Serving the Public Interest and Earning $$$
In This Chapter
• Low-income clients become homeowners
• Federal grants add dollars to the mix
• Nonprofit groups fund down payments
• Subprime loans are a (risky) alternative
No one should be denied the opportunity to fulfill the American dream and own his own home. There are programs designed to help low-income and minority groups become home buyers. As a mortgage broker, you will still earn fees for each of these loans, and there is the added satisfaction of helping others.
In this chapter, we’ll review the requirements that low-income borrowers must meet and the programs that are available, and look closely at the subprime mortgages that have become an alternative method of financing. ...