Fannie 3% Down is Back!

Good news! The Fannie Mae 97% LTV is back! The 3% down payment is once again available for both purchase and limited cash-out refinances. Fannie Mae is providing multiple options to help serve creditworthy borrowers. Program Will allow LTV ratios greater than 95% up to amaximum of 97% for: ·         Purchase transactions if at least one borrower is a first-time home buyer and pre-purchase home-buyer education is completed ·         Limited cash-out refinances (non-MCM) of existing Fannie Mae loans. ·         All loans must be fixed-rate and secured by a one-unit principal residence. Manufactured housing is not permitted. ·         Fannie Mae will now allow reserves to come from gifts.  Call me Today to Learn More About This Exciting Program Sure to Boost 1st Time Home Buyer Purchases and Home Refinances in 2015!