1% Downpayment First Time Homebuyer Purchase Option!

 

 




Eligible clients only need to put 1% down, and the other 2% is covered, providing all the benefits of a 3% down payment!
 
Affordability is top of mind for most home buyers. this new, exclusive and affordable purchase product that requires less upfront savings for your eligible clients, helping them get on the fast track to homeownership. Since clients don’t pay the mortgage insurance, they can also significantly decrease their monthly payment over the life of the loan.


Client Qualifications
  • Must make less than or equal to 80% of the area median income for the subject property
  • Minimum FICO® Score of 620
  • Minimum down payment of 1% required
  • Minimum LTV/CLTV/HCLTV of 95.01%; maximum LTV/CLTV/HCLTV of 105% (with an eligible Community Second)
  • Maximum loan amount of $350,000

  • No PMI option


Bob McCormick, President
 
Toll Free 800-328-0144 


14362 N Frank Lloyd Wright Blvd #1000
Scottsdale, AZ 85260

23 Corporate Plaza Dr. #150
Newport Beach, CA 92660

 mb0903631 nmls175743 nmls179756 Cadoc603J043 Equal Housing Lender

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