I received a mail from local mortgage broker in Littleton the other day. She works for KeyBank as a loan officer. She was telling me about a loan program that allows borrowers to get up to 100% loan to value. This is an amazing loan program because most loans today require at least 3.5 percent down just to go FHA. On top of 3.5% down the FHA loan also requires PMI insurance and an up front funding fee of 2.25%. The loan from KeyBank involves conventional financing with no private mortgage insurance required.
Making Littleton Home Ownership Easy
This program can work for first-time homebuyers because it allows for lower down payment options, so it takes a lot less cash to get started and qualifying for this program with all of its benefits is easier than you might think. this is the next interest rate loan and it allows a maximum of 3% seller contribution towards buyers closing costs and prepaid items. It does require one-month reserve toward principle, interest, taxes and insurance ( PITI ).
If you are interested in this loan program, fill out the contact form below and I’ll get you in touch with my local loan consultant.
This entry was posted on Tuesday, April 6th, 2010 at 12:35 am and is filed under Buyer Info, Mortgage Lending. You can follow any responses to this entry through the RSS 2.0 feed.
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