mortgage simple definition: New 3% Down Mortgage

New 3% Down Mortgage

New 3% Down Mortgage. Fort Collins Special mortgage loan rate programs with only 3% down 970-484-5626

New 3% Down Mortgage video duration 2 Minute(s) 23 Second(s), published by MIMortgagePro on 06 01 2015 - 22:05:37.

www.peggyloans.com I am so excited to tell you about this! We are one of very few lenders to roll out this new Fannie Mae loan program which features only 3% Your mortgage loan will help determine the house you buy
Before you start house hunting, learn about the different types of mortgage loans
For more info .

Buying a house is not as difficult as you think
you can buy a home with just 3% down-payment, which can even be a gift
With the right program we can refund www.YourMortgageNerd.com http://fortcollinsmortgage.com Fort Collins special mortgage loan rate programs with only 3% down
Or a second home loan for only 10% down
Or a investment .

www.peggyloans.com

I am so excited to tell you about this! We are one of very few lenders to roll out this new Fannie Mae loan program which features only 3% down. This is a great product which is a huge alternative to FHA loans which have the really high mortgage insurance for the life of the loan. There are 3 versions. Straight 3% down purchase, My Community 3% down, and a 97% refinance HARP-like loan.

Here's the skinny for the purchases.

No credit score requirements, but must get an approval on the automated system and there are pricing adjustments for the lower credit scores.

3% maximum seller credit.

Now for the really great part - the My Community version. All the down payment can come from a gift which is very FHA-like. The mortgage insurance is super cheap. Here is a link for a great comparison between the FHA mortgage insurance and the PMI on My Community loans. https://www.mgic.com/loan-officers/fannie-mae-mcm.html There is homebuyer education required similar to that of the MSHDA loans. There are maximum income requirements. In my primary lending area, the low is Jackson County at $57,400 and the high is Washtenaw County at $87,400 to be eligible for the My Community Mortgage.

Just like FHA, we underwrite these loans right in-house so we can get your deals closed quickly. Remember that we are selling directly to Fannie Mae which is what makes it possible for us to roll out this loan before most other lenders.

Give me a call if you have questions and tell everyone you know about this great new loan!

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