Did you know that you can buy a house for only 3% down, with absolutely NO mortgage insurance? We’re not talking about mortgage insurance that is hidden in the interest rate – we mean NO mortgage insurance!
Not every lender is allowed to offer these loans, but we are.
Here’s what you need to know:
- Only 3% down and the down payment can be a gift from a relative
- There is no mortgage insurance
- 30-year, fixed rate mortgage
- This is for owner-occupied properties only
- The borrower cannot own any other properties
- No condos, but townhouses are OK
- The borrower does NOT have to be a first-time homebuyer
- Maximum purchase price in the Denver-Metro area is $375,000. Boulder County is $417,000.
- Maximum household income in the Denver-Metro area is $79,300 for a 1-2 person household and $91,100 for a 3+ person household. Boulder County is $93,800 for 1-2 people and $107,800 for 3+ people.
Getting a loan approved is easy - if you know what to do. The Mortgage Experts know what to do!!! Call us if you want to use the best lenders in Colorado!
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