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Flex 97 Loan
The 3% Down
Home Buying Tips
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 (640+) home buyers should strongly consider the advantages of today's Conventional Flex 97 loan.
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Other loans you might be interested in:
3% Down No PMI
See more Loan Options
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.
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 640
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.
The Home Buying Process
a step by step guide
FIND OUT MORE HERE
American United Mortgage Corporation
210 Haven Avenue
Scotch Plains, NJ 07076
Licensed Mortgage Banker
NJ Department of Banking & Insurance
NJHMFA Approved Lending Institution
NMLS License # 75965
Equal Housing Lender
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