New 3% Down Payment
Conventional Loan Program
There’s a great new low downpayment mortgage option available for today’s home buyers. It is also a great option for a lower-equity refinance for those who are looking to refinance.
Type of Loan Programs:
Type of Property:
Maximum Loan Amount:
Mid FICO Score:
Borrowers Minimum Contribution:
Seller Financing Concessions Allowed:
15, 20, and 30 Year Fixed Rate
1 Unit – Single Family
Can Be Cancelled Upon Eligibility
Yes – Up to 3%
The 97% loan-to-value program is meant to help home buyers who would qualify for a loan, but lack the resources to make a five percent downpayment or more.
The program is also great for homeowners whose homes have lost value since purchase, but who are ineligible for the Home Affordable Refinance Program (HARP).
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Lending in All of Florida