We all deserve good news now and again --- So for this week, take the new 95% Conventional Program to the Bank.
In light of FHA raising their Upfront MIP to 2.25% this week, there is now another option for those willing to put an extra 1.5% down in cash on a new home.
Here are the details on the 95% Conventional Program:
- Primary Residence only
- 1st Time Home Buyers and Move Up Buyers
- Monthly Multiple as high as .94% ($195K loan the monthly mortgage insurance is $151 est.)
- Credit Score above 720
- DTI Ratio at 45% or less
Good information to have just in case you find any buyers that want to put less than 10% down but not go through FHA.
Hope this works for you.