Skip to main content

‘Boon for First-Time Buyers’

  • Tue Jun 28 2016, 1:55 pm
By James D. York, PA

June 17, 2016

‘Boon for First-Time Buyers’

By James D. York, P.A.

Future homebuyers who are considering their mortgage options may want to take advantage of a new program announced last week by Wells Fargo. The lender has partnered with Fannie Mae to develop a way to make home ownership more accessible, with low down-payments and lower out-of-pocket costs for residential loans.

The program, called yourFirst MortgageSM, offers a simplified lending process including down-payments as low as 3% to low-to-moderate income consumers with a qualifying 620 credit score. Buyers can complete a homebuyer education course to get an interest rate reduction of 12.5 basis points. Lenders will also consider additional criteria to boost credit, such as rent, utility bills, and tuition payments. Gifts or down-payment help programs are fine, and income of family members or renters who will live in the purchased home can be included in the debt-to-income calculations.

According to Brad Blackwell, Home Lending Executive VP for Wells Fargo, "There are a lot of conventional loan products with low down-payment options, but the criteria are so complex that it creates barriers for many qualified borrowers. With yourFirst Mortgage, we wanted to provide access to credit and simplify the experience while maintaining responsible lending practices."

Just give us a call with any questions about how this new program could work for you.

Connect With York Real Estate Group



Facebook: YorkRealEsateGroup                

Instagram: NaplesYorkRealEstateGroup



York Real Estate Group consists of James, Michael, and Morgan York, Florida Realtors with Downing-Frye Realty. James York is the winner of the prestigious 2014 and 2015 SWFL People’s Choice Realtor Award. The group has over 25 years combined experience and over $250 million in sales transactions. Visit The York Group online at for all current MLS listings of houses for sale in Naples, Marco, Bonita, and Estero. If you have other questions, the Yorks invite you to email or call them at or 239-273-6727.



BR Logo The data relating to real estate for sale on this Website comes in part from the Broker Reciprocity Program (BR Program) of these sources: M.L.S. of Naples, Inc., Bonita Springs-Estero Association of REALTORS®, Southwest Florida MLS (Gulf Coast), My Florida Regional MLS DBA Stellar MLS, Sanibel and Captiva Island Association of Realtors®. Properties listed with brokerage firms other than Featured Home Listings are marked with the BR House Icon and detailed information about them includes the name of the Listing Brokers. The properties displayed may not be all the properties available through the BR Program. The data is updated every 4 hours, but can be influenced by delays from various real estate companies entering data in MLS. Some properties that appear for sale on this website may subsequently have sold or may otherwise no longer be available. All properties are subject to price or other changes without notice. For the most current information, please contact us using this form, or click on the "Request Info or Appointment" button on the search results and detailed property pages.

The source of this real property information is the copyrighted and proprietary database compilation of the © 2022 M.L.S. of Naples, Inc., © 2022 Bonita Springs-Estero Association of REALTORS®, © 2022 Southwest Florida MLS (Gulf Coast), © 2022 My Florida Regional MLS DBA Stellar MLS and © 2022 Featured Home Listings, a Florida Real Estate Brokerage. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. Information last refreshed: 2022-08-15 20:31:57

ADA Compliance

Our Web site Accessibility

We are committed to providing an accessible web site. If you have difficulty accessing content, have difficulty viewing a file on the web site, or notice any accessibility problems, please contact us to specify the nature of the accessibility issue and any assistive technology you use. We will strive to provide the content you need in the format you require.

We welcome your suggestions and comments about improving ongoing efforts to increase the accessibility of this web site.