100% Financing…Really?
Lately I have been getting alot of questions from people…mainly first time buyers asking about 100% financing and if it is still possible. For a while, there was really only an FHA loan that requires 3.5% down or USDA Financing which although does offer 100% LTV, has area restrictions….and Longmont is not in the area. However…good news! Key Bank is offering a 100% LTV mortgage that requires only $500.00 from you the buyer! The best part is that this is a conventional product!
Here are some basics:
$500.00 buyer contribution
NO PMI (Private Mortgage Insurance) = Lower Payment!
Alternative Credit is Acceptable
Up to a 3% seller contribution for closing costs and fees
Funds needed to close can me a gift or a grant
Flexible Credit Decisions
This loan program has helped many people achieve the dream of home ownership! I recently closed a Key Community loan and it was a seamless process that went well for the buyer! Now, the PROPERTY OR the BUYER need to qualify for this program, but more people qualify than you would think!
If you are interested in seeing if this is a viable option for you, please give me a call or send me an email. I will be able to help out and educate you on if this program will work very quickly!
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Comments
I am already pre-approved for 280,000 FHA loan and have the 3.5% down payment and
closing costs but am not happy with having to pay $280.00/mo in pmi insurance. Can you help?
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