Conventional

3% Down Conventional is Back!!!!

Conventional Loan

A conventional loan is any loan that is not guaranteed or insured by the federal government under the Veterans Administration (VA) the Federal Housing Administration (FHA), or the Rural Housing Service (RHS) of the U.S. Department of Agriculture. Conforming Conventional Loan follows the guidelines and maximum loan amount of government sponsored enterprises (GSE’s) such as Fannie Mae or Freddie Mac

Features of a Conforming Conventional

• As low as 3% Down for Primary Residence
• Finance available for Second Home’s and Investment Properties
• No First Time Home Buyer restrictions
• No mortgage insurance with 20% down
• Privet MI offers options and discounted rates
• No 90 day flip restrictions

Important Information

Maximum Loan $ $417,000.00

Down Payment requirements Primary Residence 3%, Second Home 10%, Investment 20% down – 25% down for 3 to 4 units

Gift funds are allowed on Primary and Second Home (buyer must have 5% of own funds unless the gift is 20% or more)

PMI (privet mortgage insurance) required on all loans less than 20% down

Maximum 10 financed properties

Seller contribution allowed 3% to 90% LTV / 6% 89.9% to 75% LTV / 9% 74.9% LTV