You may qualify with only a 3% Down payment! Fannie Mae Loans allow full doc mortgage loans (tax returns, W2’s, paystubs) with as little as 3% down for conforming loan limits. Fannie also allows only 5% down for higher loan amounts depending on your state and county (high balance loan limits).
Rent vs. Own = Often times renters realize that it is cheaper to buy than to rent!
3-5% Mortgage Loans | Fannie Mae | Freddie Mac
Basic Guidelines:
- 3-5% down for Fannie Mae Loans
- 5% Jumbo loans for well qualified borrowers (35% DTI, 12 months reserves) up to $2M
- FICO 620 minimum
- DTI Up to 50% – Case by Case Scenario – Call, Text, Email us today!
- Tax returns, W-2’s, pay stubs for qualifying income calculation (debt-to-income ratio)
- 21 to 30 day close
- Buying can often turn out to be less than renting
- More cash in hand for your new home needs
- Click Here for Confirming Limits for YOUR County
We look forward to the opportunity to demonstrate our prompt and professional handling of your loan scenario.
