Thursday, August 22, 2013

Only 3% Down and NO Mortgage Insurance

Did you know that you can buy a house for only 3% down, with absolutely NO mortgage insurance?  We’re not talking about mortgage insurance that is hidden in the interest rate – we mean NO mortgage insurance! 

Not every lender is allowed to offer these loans, but we are. 

Here’s what you need to know:
  • Only 3% down and the down payment can be a gift from a relative
  • There is no mortgage insurance
  • 30-year, fixed rate mortgage
  • This is for owner-occupied properties only
  • The borrower cannot own any other properties
  • No condos, but townhouses are OK
  • The borrower does NOT have to be a first-time homebuyer
  • Maximum purchase price in the Denver-Metro area is $375,000.  Boulder County is $417,000.
  • Maximum household income in the Denver-Metro area is $79,300 for a 1-2 person household and $91,100 for a 3+ person household.  Boulder County is $93,800 for 1-2 people and $107,800 for 3+ people.
Getting a loan approved is easy - if you know what to do.  The Mortgage Experts know what to do!!!  Call us if you want to use the best lenders in Colorado!
 
Make sure you check out our web site:

 
By the way, don't forget to refinance your current mortgage.  Rates are very, very low right now.  Don't miss out!  Call us today to get the details for your particular situation.

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