Are you looking to become a homeowner in 2018? We’ve got some pretty exciting news for home buyers!
This week, we are excited to announce the addition of Freddie Mac Home Possible Fixed Rate product.
Home Possible gives Americans much more flexible guidelines and a better opportunity to purchasing their dream home. Keep reading to see the outline of all the benefits that come with this new option!
Home Possible offers lower down payment options for buyers with a moderate income or in underserved communities. This product also provides higher loan-to-value ratios and lower than standard mortgage insurance requirements!
What are some other benefits to this product?
– Financing up to 97% LTV; up to 100% CLTV on eligible transactions with Affordable Second lien
– 1-unit properties, condominiums, and PUDs (attached and detached)
– Purchase and rate-term refinance transactions
– Maximum loan amount of $453,100
– 15,20, and 30 year terms
– Minimum FICO of 620
– Reduced MI coverage of 25% for 90.01% to 97% LTV
To get started with this great product, there is a short Homeownership Education course required. Click here to learn more!
We work so hard here at Sun American Mortgage to help you accomplish the American Dream of becoming a homeowner! We will walk you through every step of the home buying and mortgage loan process and thoroughly answer any questions you may have.
No matter your financial situation, we will help find the mortgage loan program that fits you BEST. Take the first step and get a quick and easy Pre-Approval here or call us at 480-832-4343.