Play
Fannie Mae has recently announced they will allow for low down payment mortgages, LTV ratios greater than 95% up to a maximum of 97% for First-Time home buyers. This is great news for many who are in need of a low down payment and don’t need an FHA loan. Here are some of the main FAQs:
Qualifications:
- Only need one borrower to be a first-time home buyer
- Must be primary residence
- Includes single family residence, Condo’s & PUD’s (Manufactured housing NOT permitted)
- Must be a Fixed Rate mortgage
- Mortgage Insurance required
- Home Buyer Education Required
For more information please contact us. If you would like to apply, click here.
