Who says You Can't Buy a Southbay Condominium with Only 5% Down?

Mortgage and Lending with Kinecta Federal Credit Union

Who says You Can't Buy a Southbay Condominium with Only 5% Down?

All across the nation folks are struggling to come up with the money for a down payemnt.  Who has 20% down these days?  Folks are just struggling to make ends meet--if they are lucky enough to have jobs.  Although savings rates are increasing and stronger than they have been in the past 10 years, still Americans find it hard to scrape together enought money for 20% down. 

What to do??

Ask your aging parents who are downsizing for money?  Fat chance.

Where else can you turn?

     In the Southbay the condo scene is picking up.  Actually not just condos but for homes as well.  Why?  Because Kinecta has an unbeatable new program.

What do you do when your buyer wants a condo but it is not Fha approved?  Go with 95% conventional financing of course.  5% down and problem solved.  Buyer needs a minimum 66o fico score, the down payment must be their own funds, and they must have 2 months reserves.

This is the best first time home buyer loan available.  What about PMI?  We have the lowest PMI rates.  And with a 680 fico, the buyer can choose the single premium mortgage insurance (SPMI) option.  SPMI is paid upfront in one lump sum, and this eliminates the monthly PMI payment.

If you have a buyer who only has 5% down call me and I will give them what they need and want.  A loan they can qualify for and that gives them the lowest monthly payment.

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