Real Estate News with Terri Taydus, GRI, CNA

Home Ready - Purchase a New Home Today With As Little As 3% Down!

August 31st, 2016 4:50 PM by Taydus Taydus


  • Purchases up to 97% LTV
  • Refinances up to 95% LTV
  • Conforming / High Balance
  • Enhanced AMI Limits - 100% of AMI / Recent increase in no income limit zones.
  • 100% Gift for costs and down payment
  • Credit Scores 680+ - No LLPA's (Standard Lender Adjustments apply)
    • Below 680 - Capped at 1.5%
  • Better Pricing the FHA and Standard Conventional
    • No Upfront Mortgage Insurance
    • Lower down payment than FHA -Reduced Monthly MI Factors
  • Borrowers can own multiple properties
    • 3% Min. Borrower contribution for 2 unit properties
  • 1-2 Unit properties are eligible. 

 

There is a significant increase in the number of new home buyers wanting to buy homes in Boulder County with incomes ranging between $70,000 - $100,000+ and little money saved for down payment.

The above program does not get a lot of press and not sure why other lenders are not promoting this product.

The program has expended its availability especially in Longmont where many areas have no income restriction.  Most of Boulder County still has a maximum income of $99,400 but there are pockets with no income restrictions.  You simply need to go to the web page and check for a specific address.

There is also a one percent down version of this program (EQUITY BOOST) that requires a minimum credit score of 700.

For more information about the above program, please contact Joe Taydus at Mutual Security Mortgage (303) 443-5575 or email him at Joe@MutualSecurity.com

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Posted by Taydus Taydus on August 31st, 2016 4:50 PM

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