Short On Down Payment Money

Dated: 09/20/2017

Views: 180

Short on savings to put the standard 20% (or 15% or even 10%) down? Never fear, Movement has several low down payment loan options your loan officer can see if you qualify for. Check out a few that may be right for you.

M.A.P.

Our Movement Assistance Program offers 97% financing WITH the option for eligible borrowers to get a 3% grant - that doesn’t have to be paid back - for covering the down payment. This is one of our newest, most innovative products for qualifying low-to-moderate income home buyers.

FHA

If you’d love to buy a home but lack credit, a down payment, or are unable to cover closing costs, an FHA loan may be the solution. FHA financing was developed to provide homebuyers with an alternative to conventional financing and include attractive and flexible guidelines.

Fannie Mae HomeReady

If you’re a homebuyer with a good credit history and a stable job, but not a lot saved for a down payment, the Fannie Mae HomeReady™ mortgage may be for you. HomeReady is a fixed-rate, affordable housing program for creditworthy, low-to-moderate income borrowers.

Freddie Mac Home Possible and Home Possible Advantage

Looking for a fixed-rate conventional loan that goes easy on the down payment requirement? Look no further than the Freddie Mac Home Possible and Home Possible Advantage mortgage options. Both are for qualified borrowers with good credit history who may have difficulty saving for a down payment.

Give us a call with any questions

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