Have you heard the news?
Government Home Loans
FHA – Primary residence with 3.5% down (can be a gift from a family member) Has upfront & monthly mortgage insurance, $271,050 loan limit
Flipped properties – (owned <90 days) purchase price to be 20% over acquisition cost/ 2 appraisals required (Only 1 appraisal can be charged to borrower)
VA – Primary residence only- Veterans, Active & Reserve National Guard 100% Financing/ no money down/ up to 4% seller contribution. VA Jumbo High Balance available also. Down payment varies by actual loan amount.
USDA Rural – Primary residence with 100% financing. Family income limits & property in a rural area (Buckeye, Anthem and Queen Creek in Maricopa County)
Conventional Loans –Primary residence with 5% down/ second home with minimum of 10% down.
Investment property with a minimum of 20% down
Flipped properties allowed <90 days +20% increase may require 2 appraisals and receipts for improvements (only 1 to be paid by buyer)
Jumbo Loan (over $417K) Primary residence/ 660 minimum FICO/ 10-20% down up to $2 million. 1st and piggyback 2nd mortgage combos available 10% down, 80/10/10
Second home with 25% down
This program allows buyers to get into a home with very little money out of pocket. The lender charges only 1% origination fee- leaving 4% for the buyers down payment. Then we can structure a contract so the buyer receives 2-2.5% seller concessions towards the buyers closing costs. The only expenses out of pocket for the buyer is the Earnest Deposit (which you may get back at closing) Home Inspection and the Appraisal.
30 days to close
Only one underwriter- US Bank
We only work with the best lenders in the business that can offer these programs and competitive interest rates. Contact me to connect with one of these lenders.
Home Key Realty