Mortgages With Little Or No Down Payment - Fannie Mae Flexible 97 and 100

Flexible 97 & 100                                           

Here in St Petersburg, when our home prices rise above $150,000 the Zero down mortgage options start to decrease.  The reason is that many St Petersburg mortgage programs have income caps (approximately $54,000) or geographic limitations .  Now you can offer borrowers more options for low down payment mortgages and more flexibility in their sources of funds for down payment and closing costs. With a Flexible 100 mortgage, the borrower doesn't need to make a down payment and can provide as little as $500 of their own money toward closing costs. With a Flexible 97 mortgage, the borrower can pay just 3% of the purchase price toward a down payment, and this amount can come from sources such as gifts, grants, loans from relatives or nonprofit groups; or employer-assisted housing.

So if you have limited funds for a down payment and closing costs, take a look one of the most flexible mortgaes available- Fannie Mae's Flexible 100 or Flexible 97.