Do you ever have a client who wants to buy a home putting the minimum amount down with 100% gift funds? If so, we have a fantastic “conventional” solution for you! .........
Most lenders don’t have a way to provide buyers with a conventional loan using only 5% down. Even fewer are able to do so with the down payment being solely from gift funds. But we can help!
HOW YOU CAN USE THIS:
This works great for your buyers who don’t have enough of their own funds for a down payment, but have gift fund money available from a family member.
We are able to provide conventional loans up to 95% of the home’s value, with the whole 5% down payment coming from gift funds!
Benefits for your buyer:
- No lifetime FHA mortgage insurance
- Lower payments with conventional financing
Benefits for you:
- No need to search for FHA-approved condos
- More streamlined loan process
- You’ll be a hero to your client!
Why place great clients in an FHA loan when they can capitalize on lower payments with conventional financing? Why stick clients with a lifetime of wasted mortgage insurance?
We can qualify buyers for conventional loans in this situation. This means no FHA-approved condos required. It means more streamlined underwriting. It means lower payments for your clients!
Feel free to contact us for more information on this program...we’re here to help!