As an alternative to FHA financing, we can offer conventional financing with a minimum of 3% down. This may also include down payment and closing cost assistance. Highlights of this program for the 11 county metro area:
- 2 conventional programs with minimum of 3% down: with and without PMI.
- Income Limits: combined household income can’t exceed $83,900 for 1-2 person or $96,485 for households with more than 3 persons.
- Purchase Limits: $298,125
- Down payment and closing costs assistance loans: up to 5% of the purchase price
- Minimum Borrower contribution: $1,000
- Homebuyer Education: Required for 1st time homebuyers
Please contact Cathy Robin, Senior Loan Advisor, for more details about this program!