RIGHT CHOICE MORTGAGE IS EXCITED TO OFFER THE CONVENTIONAL
1% DOWN WITH EQUITY BOOST LOAN PROGRAM
This is a great new program with a low down payment of just 1%!
How Does it Work?
This is not an FHA-backed loan. This is a true conventional loan. This is a great alternative to the 3.5% down payment programs that already exist. This is designed for borrowers that have high credit scores and want to save money on their down payment. This puts more money in your pocket at closing leaving more room for upgrades, furniture or to simply save.
FHA loans require 3.5% down and are extremely costly due to the additional 1.75% funding fee. This new program does not require a funding fee.
- You put down 1%, your lender contributes 2%*, giving you 3% equity at closing
- Great low rates
- Home buyer instantly has 3% equity
- Close in 30 days or less
- Conventional 30-year fixed program
- Available with no monthly Mortgage Insurance
*2% lender contribution may only be applied to down payment
- Minimum credit score of 700
- Maximum debt-to-income ratio of 43% (This means that no more than 43% of your income can be paid out as debt each month)
- Only for purchase, not refinance
- It must be used on a primary residence, either single family home or condo – not a rental or second home
There’s no reason to wait. Call Jackie today and get the home you’ve always wanted. 949-600-0944