Purchase a Home 3% Down Payment WITH NO PMI

By
Mortgage and Lending with E Mortgage Management NMLS ID # 214834

As you may or may not be aware, Fannie Mae and Freddie Mac recently decreased their down payment requirements on a home purchase from 5% to 3%. This rule change affects all Conventional Loans.

Now, all Conventional loans submitted to Fannie or Freddie only require a minimum 3% down payment. You can still obtain an FHA loan with a 3.5% down payment; however, the monthly MIP (Mortgage Insurance Premium) on an FHA loan is very expensive and can have a significant impact on your overall monthly payment and the purchase price of your home. In addition, the MIP on an FHA loan will never come off unless you refinance into a conventional loan, payoff the mortgage or sell the home.

We are pleased to be able to offer our clients a fantastic alternative to FHA Financing. We have a loan program that allows borrowers to put as little as 3% Down Payment WITH NO PMI!  This is a program that many of our lenders are offering and comes with Very Competitive Interest Rates. This loan requires a 620 Fico Score for All Borrowers

At E Mortgage Management, we are always looking for ways to help our clients with the best possible loans at the best possible terms in order to achieve their dreams of home ownership.

Jason Hands is a Mortgage Loan Originator at E Mortgage Management in Tampa, Florida who has over 16 years of lending experience. He has been successful in helping thousands of his clients with their financing needs. He believes that accessibility and communication are the most important areas to be concerned with and he can be reached day, night or on weekends to answer any questions you may have.

Please click on my personal website for more information http://www.mortgagestampa.org or contact me @ 813-517-0799 for more information or to assist you in getting started on your home purchase.

Jason R Hands
E Mortgage Management 
13053 W Linebaugh Avenue, Suite 102
Tampa, FL 33626
813-517-0799 - Direct
813-385-1109 - Mobile
813-377-2905 - Fax
www.mortgagestampa.org  

NMLS Originator ID: 214834 FL # LO562

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Rainmaker
1,592,030
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Jason Hands This sounds like a positive step and possible choice for many potential buyers. Thanks for the 'heads-up'!

Jul 11, 2015 01:35 AM #1
Rainmaker
323,415
Fred Cope
Reliant Realty in Nashville, TN - Nashville, TN
Looking For Homes With A Smile

Jason, good presentation.  Three questions:

How do the rates compare? Conv vs. FHA.

What are minimum credit scores on each?

If you offer First time home buyer program, how does it match up?

 

Good luck, and have a great year.

Jul 11, 2015 01:09 PM #2
Ambassador
4,306,997
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Jason Hands - good information for the buyers! Did not know this type of products are still available.

Jul 11, 2015 02:20 PM #3
Rainer
364,117
Jason Hands
E Mortgage Management - Tampa, FL
Purchase Specialist - www.jasonhands.emmloans.com

Fred, the rates are really based on the buyers Fico score but yes they are higher than FHA/VA....We can close these loans with borrower paid PMI or Lender paid PMI...  Conventional requires a 620 fico, FHA requires a 600 fico.. I also have several DPA Programs here in Florida

Jul 13, 2015 02:36 AM #4
Rainmaker
323,415
Fred Cope
Reliant Realty in Nashville, TN - Nashville, TN
Looking For Homes With A Smile

Jason, it sounds like you have some good tools and an opportunity to help buyers, and be a source for REALTORS®.  Saddle up and ride, as John Wayne would have said.  Best of the day to you.

Jul 17, 2015 11:11 PM #5
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Rainer
364,117

Jason Hands

Purchase Specialist - www.jasonhands.emmloans.com
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