It’s true, there are a BUNCH of different loan programs available for home buyers. From FHA, to VA, USDA, and Conventional. There are lots of choices which is great for consumers. BUT how do you decide which program is for you? Most home buyers would like conventional loans because they are the least restrictive in terms of mortgage insurance, and better interest rates. here is a list of conventional programs. One may fit you! AND if you are looking for a new home; contact me today! 513-227-4284 #cincyhomessean
| 5% down with PMI (Conventional 95) | One loan at 95% loan-to-value. PMI required. |
| Conventional 97 | 3% down. No income limits. |
| HomeReady™ | 3% down. Must be at or below the geographical area’s median income unless home is located in underserved area. |
| 90% loan | One loan with 10% down. PMI required. |
| Piggyback 80/10/10 | 10% down, 10% second mortgage, and 80% conventional loan. No PMI required |
| Home Possible Advantage | 3% down loan with income restrictions. Offered by Freddie Mac home lenders. |
| Down Payment Gift | Applicant may receive any percentage of the down payment as a gift from family or other eligible source. |