Good Morning!Here’s an easy way to put down only 3%, pay no upfront 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.
2) Minimum 620 FICO score.
3) 3% down payment.
4) 1-unit attached and detached single-family residence, attached and detached PUDs.
5) Purchase and rate/term transactions.
6) 15, 20, 25, and 30-year loan terms.
7) No upfront MI (like you would have on FHA).
8) Loan amounts up to conforming limits ($453,100k in Texas).
This is a great product.
That’s it for today!
Have a good day today! …and thanks for reading.
Brett