Already very popular with first-time home buyers because of it’s zero down payment feature, this loan is now one of the most affordable options available.
The Upfront Guarantee Fee – has been significantly reduced from 2.75% to 1.00% – that’s .75% less than the FHA upfront fee! This reduction greatly reduces the amount added to the loan. For example, for a $150,000 home purchase the guarantee fee is reduced from $4,125 to $1,500 resulting in lower debt obligation and lower payments.
The Annual Fee – has been decreased to .35% from .50%. The annual fee is divided by 12 months and included in each house payment. Using the $150,000 home purchase example, that is a savings of about $20 per month bringing the total monthly savings to over $32. That can make the difference in an approval or denial!
Call me today to discuss if this loan option is a good fit for you! Or click below to get pre-qualified!
501.229.7145 | firstname.lastname@example.org