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48 Meriden Rd, Suite 1, Middlefield, CT 06455
844.788.7237
info@northeast-mortgage.com

FHA is not the only option for a low down payment

Conventional, First Time Home Buyer, Mortgage Basics, Purchase

Did you know that Fannie Mae and Freddie Mac both offer competitive low money down products as well?  FHA is not your only option to get into a new home with less than 5% down.

  • Down payment as low as 3%, even for first-time buyers
  • Typically faster, easier and with a lower monthly payment than an FHA loan
  • Reduce or even eliminate monthly mortgage insurance (not possible with an FHA loan)
  • Gift funds can be used for entire down payment

Call us today to learn more!

Your Northeast Financial Staff
(844) 788-7237
info@northeast-mortgage.com
NMLS#117273

 

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General Disclosure

When discussing programs that allow for 3.5% down, 0% down, or a percentage down – the borrower is not required to only put that exact percentage down. FHA, USDA, VA, CHFA, Jumbo, and Conventional Mortgages allow borrowers to put down more of a percentage if they desire to. The percentages mentioned in the information provided is the minimum down payment that these programs require. Each one of these programs have specific credit score, debt-to-income ratio, and payment history requirements to qualify for the minimum down payment.

Disclaimer

Northeast Financial is presently in the process of applying for their Mortgage Broker’s license in the state of New York.  Website authorization by the New York State Department of Financial Services is pending.  Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site. If you are a New York Resident – please do not submit any information through our website.

 

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The content provided within this website is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Mortgage loans arranged through third party providers. Does not make loans, issue a pre-qualification or pre-approval in the state of New York.

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