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First time homebuyer-3% Down, NO MI!!

Posted on December 28, 2012 by Ray Williams (NMLS #216267).

Finally something to reward those who have good credit, all of you out there that have worked at maintaining or worked to get good credit.

CHFA has a new loan program called the “CHFA Advantage” and an advantage it is!  It is an 30 year fixed loan with no mortgage insurance (MI) and only 3% down payment required.

To qualify you need to be a first time homebuyer or non-first time homebuyer purchasing in a targeted area, Eligible veteran, CHFA-approved homebuyer education class required, Mid credit score of 700, $1000 minimum purchase contribution, income and purchase price limits (targeted areas have different income and purchase price limits).  To see more info please see the link above.

If you have any questions and would like to know if you qualify, please give me a call.  This is a great opportunity!

Cheers~

Ray Williams

Branch Manager

Summit Mortgage Corporation

303-779-0591 ext. 101

rwilliams@summit-mortgage.com

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