3% Down Conventional Loan
- Down payment as low as 3% (even for first time homebuyers)
- Reduce or even eliminate monthly Mortgage Insurance (not possible with FHA)
- Usually faster, easier and with a lower monthly payment than FHA
- Use gift funds for your entire down payment
- Refinance your current mortgage with as little as 5% equity (regardless of current mortgage program)
FHA – A great government insured mortgage loan program if you have higher debt and lower FICO scores.
- The down payment required is only 3.5%
- Allows for a lower FICO score and higher debt load
- The upfront mortgage insurance can be financed
- There is a monthly MIP fee (Mortgage Insurance Premium)
- All things considered, this can still be a great program for the first time buyer.
VA Mortgage – This is an awesome loan program for our Veterans!
- No Down Payment is required
- Low Interest Rates
- The loan process has improved a great deal and can often be closed within 30 days!
FICO CREDIT SCORE
If you don’t know your Mortgage FICO scores, give us a call and we’ll explain the difference between a free online score and a mortgage Fico score. Together we’ll pull your credit so you know where you stand. You will receive a full credit report with your Mortgage Fico scores for your records. We’ll even give you some free tips on improving your FICO scores!
- Your Mortgage FICO score is different than the free scores you can get online
- Call us today to receive your true Mortgage FICO Score within minutes
- Free tips on how to improve your scores and prepare for your first home