Only 3% Down Payment On This Program Up To $417,000!…

One of the reasons people use FHA to buy a home is that it has a small 3.5% down payment.

Conventional has a small down payment program too, and in some ways it’s better than FHA…

1) 3% down (97% financing).

2) Max loan amount is $417,000 (much higher than FHA).

3) Debt to income ratio, and reserves determined by automated underwriting.

4) Standard MI coverage of 35% is a MI factor of 1.15% (CHEAPER THAN FHA)

5) No up front MI!

This program does require a minimum credit score of 680.

If you want to purchase a home and have a low down payment – this program is an option for you!

That’s it for today!

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

Brett

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