Zero down payment, 80/20's, and other zero down payment lows were some of the first casualties of the mortgage and housing market meltdown.ZERO DOWN Payment First-Time Home Buyer Loans are BACK in Minnesota. We got it - You Need It - The NEW Fannie Mae Affordable Advantage Program
Basic Affordable Advantage requirements and info:
- 100% financing, 30-yr fixed, NO mortgage insurance
- Single family homes only
- Must have at least a 680 credit score, and no more than a 45% debt-to-income ratio
- Up to 3% seller paid closing costs
- Buyer must put in at least $1,000 into the deal (this is usually just your earnest money)
- Home Buyer Class Required (we'll help you sign up)
- Must be first-time buyer (or not owned a home in the past 3-years)
Getting started is easy, and requires two simple steps:
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Sign-up for the required first time home buyer education class
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Fill out a full mortgage application. Apply online or call (651) 705-6261
33 Wentworth Ave E #290, Saint Paul, MN 55118
Ph: (651) 552-3681 NMLS #274132
Cell: (651) 705-6261
www.JoeMetzler.com
We Beat The Banks Everyday
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Wow Joe, that is great! As a Realtor, I have many MN first time home buyers who have the capacity to buy a home, especially with today's lower home loan prices, but they have been locked out of the market because they lack a down payment.
It's nice to see this Affordable Advantage program come to MN. It is also encouraging to see that the program requires a respecible credit score and home buyer education. Two items that should dramatically help people buy a new home but yet keep us away from the crazy lending - give everyone a home practices of a few years back.
Affordable Advantage - I'm sending all those clients to you over at Mortgages Unlimted.
- Cindy