Flex 97 Loan

The 3% Down
Home Loan

Conventional Flex 97
The 3% Down Home Loan

At American United, your road to homeownership couldn’t be easier with today's Flex 97 loan, a conventional first-time home buyer loan that only requires 3% down.
I want to thank you again for your promptness and professionalism which enabled Barbara and I to obtain this mortgage.
- Steve G., Edison
The flex 97 is not a new loan program, just one that's often overlooked by lenders as many assume the FHA (Federal Housing Administration) has the only low down payment loan left.

With a good credit score (700+) home buyers should strongly consider the advantages of today's Conventional Flex 97 loan.
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Benefits of a
Conventional Flex 97 Loan:

  • Only a 3% down payment required ( FHA requires 3.50% down )
  • No upfront mortgage insurance required ( FHA requires 1.75% Upfront Mortgage Insurance
  • 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.

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