))
The Home Ready Loan Is a Great Option
Manage episode 152606575 series 1065190
内容由Kathy Lamb提供。所有播客内容（包括剧集、图形和播客描述）均由 Kathy Lamb 或其播客平台合作伙伴直接上传和提供。如果您认为有人在未经您许可的情况下使用您的受版权保护的作品，您可以按照此处概述的流程进行操作https://zh.player.fm/legal。
There is a conventional loan program out there that allows for minimum down payment and reduced mortgage insurance, and it’s not just for first-time buyers. It’s called a Home Ready loan.
Cash is a big obstacle for nearly all home buyers. Fannie Mae’s Home Ready loan program was created to help low-to-moderate income buyers with decent credit buy or refinance a home.
You don’t need to be a first-time buyer, but you can’t own a home at the time of closing. Your minimum down payment is just 3% of the purchase price, and that includes condos. It’s the only program I know of where you can put that little down payment on a condo.
“
”
You don’t need a boatload of cash to buy.
”
There are no price adjustments on buyers with higher or lower credit scores. There are also no minimum borrower contributions, and all costs and down payments can come from gift funds.
Rental income from a border or accessory dwelling can be used to offset high debt-to-income ratios. It also allows non-borrowers’ income to be used. Finally, it can be used to refinance a home. You can do a limited cash out of up to 95% of the value of your home. This is a great program for home buyers and homeowners.
If you are interested in buying or refinancing with this type of loan in Ohio or Kentucky, give me a call or send me an email. I’d love to help you out!
8集单集
分享
