Movement Mortgage conventional loans come in a variety of options and with excellent advantages for qualified borrowers. While FHA and other government loans can have certain property restrictions, a conventional loan can be used on nearly all property types. Those able to put 20% down are afforded additional savings in the waiver of private mortgage insurance.
SHORT ON DOWN PAYMENT? HERE ARE A FEW CONVENTIONAL LOW DOWN PAYMENT OPTIONS
Fannie Mae Home Ready!
Home Ready is a fixed-rate, affordable housing program for creditworthy, low-to-moderate income borrowers offering up to 97% financing.
Freddie Mac Home Possible & Home Possible Advantage is designed for low-to-moderate income homebuyers purchasing or refinancing properties in target areas.
Maximum financing (LTV/CLTV) and minimum credit score requirements are determined based on the loan product
Private Mortgage Insurance (PMI) is required on conventional loans with a loan to value less than 80%.
REWARDS OF CONVENTIONAL QUALIFYING
A range of down payment options
Advantages for higher down payments
Option to eliminate mortgage insurance with a 20% down payment
Financing for properties commonly restricted by government loans
Phone number- 612-209-7922