Only 3% Down Up To $417k On This Loan Product…

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.

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 up to conforming limits (417k 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 me and I can help you with this.

That’s it for today!