Down Payment Options with all 30 year fixed loan programs

August 13th, 2019 1:42 PM by Andrew Walter May CEO

All 30 year fixed loans in the USA go to the federal government or require 100% capital support (meaning that the lender loses money on originating 30 year mortgages, which banks won't do). The consumer's goal is to deliver loans to the federal government through the least expensive channel found. That's where comes in. With low overhead, is the consumer's optimal option to achieve the best mortgage rates and service.

Here, develops a short and easy to understand down payment profile for each loan program. 

1. Fannie Mae - 3% down payment (times purchase price);

2. FHA - 3.5% down payment;

3. USDA and VA - 0% down payment.

In addition to the above down payments, consumers will be required to meet many other underwriting conditions. For example, most loans require at least 2 months of PITI (monthly payment if principal, interest, taxes and insurance) in reserves (checking account). For more information about qualifying for loans contact Andy May 919 771 3379 for a quick and simple conversation. NMLS 88010. NLMS LO 103418. Equal Opportunity Housing. Zero BBB complaints since 2005. Not one.

Posted by Andrew Walter May CEO on August 13th, 2019 1:42 PM


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