Conventional 97 Financing System

A comparatively the newest selection for low currency down lenders is actually the conventional 97 program offered by Fannie mae and you will Freddie Mac. Consequently you may get a home with just a great 3% downpayment. That is below FHA already demands.

• Repaired rates mortgage
• Maximum amount borrowed is $424,100
• The property have to be most of your home
• Need to be a single-family home otherwise condominium
• Do not have owned a house in the last three years

This method, even though it is a normal mortgage, simply means an effective 620-credit score so you can qualify. This will make it truly inside reach for of a lot customers. (далее…)