New 3% Down Loan Product...

Good Morning!





I wanted to highlight a very competitive product being offered by Fannie Mae.



...It's their 97% purchase product. That's right! ...only 3% down.



Here are some of the important features of this product...



1) Owner-occupied primary residence only.



2) Minimum 720 FICO score.



3) 3% down payment must come from the borrower's own funds.



4) 1-unit attached and detached single family residence, attached and detached PUDs.



5) Purchase and rate/term transactions.



6) Maximum DTI 41%.



7) 15, 20, 25, and 30-year loan terms.



8) No up front MI (like you would have on FHA).



9) Loan amounts exceed 271k (which is the FHA limit in most of Texas).



This is a great product.



If you meet the credit criteria listed above, and you only want to put 3% down on a house - then call me and I can help you with this.

I hope you have a good week. Thanks for reading!


Brett