EFFECTIVE IMMEDIATELY THIS PRODUCT OPTION IS NO LONGER AVAILABLE. HOWEVER, WE DO STILL OFFER A CONVENTIONAL MORTGAGE OPTION WITH A MINIMUM DOWN PAYMENT OF 3%. PLEASE SEE ME BLOG FOR DETAILS ON THIS PROGRAM.
We are pleased to offer mortgage options that allow for NO Monthly PMI (Private Mortgage Insurance).
With more and more buyers having less cash for a down payment and the never ending stream of mortgage insurance rate increases by FHA, a conventional mortgage option with 3% down and no monthly mortgage insurance is a welcome relief to many would be homebuyers who seek to have a lower monthly payment.
So what's the catch? Why would a lender offer such a product and not require monthly mortgage insurance? The truth is by structuring the loan correctly, well qualified buyers can take advantage of a loan structure that allows for the flexibility of a down payment as low as 3% while not having a monthly mortgage insurance payment.
This program is for well qualified buyers who may not have a large down payment. This is perfect for clients coming out of the sale of a current home where they may have made little to nothing on the sale of that home. Not all borrowers will qualify. To determine if you or one of your clients may be eligible please contact us or complete our no-cost, no-obligation prequalification at www.danmoralez.com.
NOTE: All loans with a down payment of less then 20% require some form of mortgage insurance. Some loan structures allow for the elimination of monthly PMI insurance when a premium is paid in a lump sum at the time of closing or is paid by the lender. Depending on your individual circumstances some options may be more favorable then others. Please call for complete program details. All credit products are subject to credit approval.
ELIGIBLE STATES: Deleware, Florida, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, South Carolina, Ohio, Pennsylvania, Virginia, Washington DC and West Virginia.
Get your application started now by visiting my website at www.danmoralez.com.
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