The Mortgage Outlet Sayville NY, Conventional 97 Loan Experts

CONVENTIONAL 97 LOAN PROGRAM

In response to helping today’s buyers have a conventional low down payment program Fannie Mae and Freddie Mae have created the 3 percent down payment program known as the Conventional 97. Below are highlights of the program:

 

  • Loan Limits may not exceed the county limits you are buying, call for details.
  • Only for Single Family Homes
  • Only for those borrowers looking for a fixed rate product
  • For First Time Home Buyer’s only
  • Minimum credit score is 620. Those with credit under 680 might have a lower payment using the FHA product, call for details.
  • Seller Concession are allowed not to exceed 3 percent of purchase price
  • Private Mortgage Insurance is required
  • Program has no income limitations

 

Call us today to see if you qualify for this program 631-589-3600

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DAVID BAILEY NMLS #3458 & ERIKA BAILEY NMLS #217190 • THE MORTGAGE OUTLET 631-589-3600 The Mortgage Outlet, NMLS #36861 is a registered Mortgage Broker with the NYSDFS. All loans are arranged with 3rd party providers. Office located at 280 West Main Street, Sayville NY 11782.

The Mortgage Outlet Sayville NY, Conventional 97 Loan Experts