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Tuesday, July 23, 2024

3% Down With No Revenue Restrictions

3% Down With No Revenue Restrictions

3% Down with No Revenue Limits
Purchasers with good revenue however low financial savings?
This mortgage has a better DTI ratio – as much as 50%

A Mortgage That feels prefer it was made for this market.

Homebuyers who’ve increased incomes however low financial savings might be able to purchase a house with simply 3% down with a Freddie Mac HomeOne® mortgage. In contrast to another low-down-payment packages, HomeOne provides no revenue restrictions – even the whole down fee will be gifted. Have a better look:

  • No borrower revenue or geographic restrictions
  • No min. borrower contribution. Zero down. – 3% down will be gifted.
  • 97/105 LTV/CLTV
  • Just one borrower have to be a first-time dwelling purchaser
  • Future employment revenue allowed
  • Most 50% DTI
  • Buy and No-Money-Out refinance
  •  SFR OO, Condos and Townhomes
  • FICOs from 620 – just one borrower wants a rating
  • MI will be eliminated with out refinancing
  • Decrease down fee than FHA
  • Go to 105 LTV/CLTV – permits each Inexpensive Seconds assembly FHLMC pointers

With over 100 accredited wholesale lenders doing enterprise with MortgageDepot, most of our typical lenders are accredited by Freddie Mac to supply the HomeOne program. We’re right here that can assist you qualify extra debtors and obtain larger success on this market.

Join with one in every of our mortgage consultants to study extra.

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