3% Down Conventional Loan Product...

Good Morning!

Here’s an easy way to put down only 3%, pay no up front Mortgage Insurance, and get a very competitive rate…

…It’s Fannie Mae’s 97% purchase product!

Here are some of the important features of this product…

1) Owner-occupied primary residence only, for first time home buyers.

2) Minimum 620 FICO score.

3) Seller contributions up to 3% of sales price.

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

5) Purchase and rate/term transactions.

6) Maximum DTI determined by Automated Underwriting.

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

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

9) Loan amounts up to conforming limits (510,400k in 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 us and we can help you with this.

That’s it for today!

Have a good day today! …and thanks for reading.

Brett

Get Pre Approved For A Loan Here
My Previous Blog