Lower Monthly Mortgage Insurance compared to FHA monthly insurance
Mortgage insurance drops off when you reach a 78% loan-to.vaiue. FHA mortgage insurance remains for the life of the loan
Where most local banks and lenders require 10% to 20% down, American United is committed to helping our home buying clients achieve their goal of homeownership by offering the Flex 97 loan.
And don't forget to ask about our NO PMI loan with 3% down for first-time home buyers purchasing a New Jersey home in CRA approved lending areas!!
You might consider a Conventional Flex 97 loan if;
You are looking to place as little down as possible
You prefer to keep more of your sayings to use toward closing costs or home renovation
You have a good credit score
You are buying an owner occupied single family home or condo/townhouse
It should be noted that the FHA in general is a great loan program as well, helping to opens doors for many home buyers.
You should consider an FHA loan if;
Your credit, score is below 700
You are looking to purchase a 2-4 unit property
Part of your down payment is corning as a gift
Find out if a Conventional Flex 97 Loan is right for you
Call or email a local American United Lending Professional today.