This will give first-time home buyers help in saving money for down payments and closing costs.
Some Details are;
• 3% down payment with monthly PMI premium and no upfront MI competes directly with FHA.
• Mortgage Insurance is required and is available from all approved Mortgage Insurance providers.
• At least one borrower on the application must be a 1st time homebuyer as defined by a lack of home ownership or interest in a home in the last three (3) years
• There are no income limitations
• Gift funds for down payment and reserves are allowed per standard FNMA requirements
Samuel T. Pink
Home Mortgage Consultant
HomeServices Lending, LLC | 355 Alhambra Circle, Suite 950 | Coral Gables, FL 33134
Cell (305) 785-8066 | Office (305) 960-2786 | Fax (844) 332-7520