3% Down Up To $453,100

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