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    • Tax Preparation
    • Home Loans
    • Personal Finance Coaching
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    • Meet Chad
    • Meet Emilie
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    • Financial Coaching Resources
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Making Finances Simple. Changing Lives.

2/12/2015

Home Loans With Only 3% Down; And No Mortgage Insurance

You can now purchase or refinance a home with conventional loans up to 97% of a home’s value. See below for several of the benefits with this program.....

HIGHLIGHTS:
  • No buyer funds required on purchases (3% down can come from gift money)
  • No upfront or monthly mortgage insurance
  • No FHA approval needed for condos
  • Lower payments with conventional financing
  • Streamline loan approvals
  • Any whole year term between 10-30 years
  • Must have a first-time homebuyer on the loan. Otherwise 5% down is required.

Many renters think they can’t purchase a home because they don’t have enough money for the down payment. This new program allows as little as 3% down without having to acquire mortgage insurance.

This program can benefit those who have the income to support the required payment on a home purchase, but don’t have the savings.

With rents increasing every year, the payment on a purchased home may be less than rent (especially once tax benefits are considered).

Feel free to contact us with questions, as we’re well suited to discuss the tax benefits and your budget for purchasing a home.


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​​© 2023 Peshke Financial Inc., all rights reserved. NMLS #2244878. "Making Finances Simple. Changing Lives." is a pending trademark with USPTO. Material contained in this website is for informational purposes only and is not meant to be construed as direct financial advice for your specific situation. It is recommended that you consult with your own advisors for any personalized financial guidance. Since we’re not licensed attorneys, we cannot provide legal advice. As such, any info contained in this website should not be construed as direct legal advice. Individual Licensure (see profiles) - click here. Send Docs Securely - click here.