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Fannie Mae 97% Option

A Low 3% Down Payment Option For Borrowers

 

For your borrowers that lack the resources for a down payment, this program makes it possible to get a mortgage.

 

Program Highliggts

  • Maximum 97% LTV/CLTV/HCLTV
  • Credit scores down to 620
  • 1 unit principal residence – Condos ok
  • Conforming loan amounts
  • Standard 35% MI coverage
  • 3% down payment may be from gift funds
  • At least 1 borrower must be a first time home buyer*
  • All refinance transactions require the existing loan be owned by Fannie Mae
  • Non-MyCommunity Mortgage purchase and rate/term transactions only

*A first time homebuyer is defined as any buyer who has not owned a home in the past three (3) years.

Request Information

Fannie Mae
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CALL THE DG TEAM NOW  305-851-5225