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Welcome
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* 3% down-borrower only contributes $500 of their own funds-the rest can be a gift or cash on hand! * Minimum 640 credit for PRIMARY borrower * No credit/NO score-OK: Borrower only needs to provide 12 month rental history* * Cash on hand for down payment considered * 30 Year fixed and 5/1 Arm pricing available-rates as low as 6% * Undocumented income allowed * 45/45 ratios allowed if housing expense is not increasing by more than 25% * Only 30% MI Coverage-factor is .90 * 3% seller contribution * US Citizens, Resident Aliens and Non-Resident Aliens * Purchase and Rate and Term Refinance *Rental history required for last 12 months-no relatives |
Zero Down Neighborhood Advantage:
| * NO MONEY DOWN * Minimum 660 Credit Score for Primary Borrower * No credit/No score-ok: Borrower only needs 12 month rental history and 2 alternative tradelines* * 30 Year fixed and 5/1 Arm pricing available-rates as low as 6% * 33/41 Ratio * 3% seller contribution * US Citizens and Resident Aliens * Purchase and Rate Term *Alternative tradeline history required for last 12 months *Higher ratios available if housing expense is not increasing by more than 25% and with credit scores above 680. |
I have a page on how to calculate your neighborhood advantage qualification ratios. I also have a report "Buying your First Home" available by email.
I have a page on mortgage documentation requirements. I also have a Free report "Buying your First Home" available by email.
The gives you an idea of the variety of low down payment loans available for the first time home buyer. Please let me know your specific situation and I will prequalify you for several home loan programs and give you a comprehensive Rent vs Buy analysis. Please go directly to the QualifierQuicksheet page.
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As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your debt is structured today can have a life changing effect in the years to come. Read more about this free, no obligation service.
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