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Looking for conventional loan 3% down in Colorado

by ryanbracknell98512 from Evergreen, Colorado. Jun 8th 2015 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

Ok.... so FHA has 3.5% down, but your limited to $424,350 loan amount. For conventional, you will need at least 5% down unless your a first time home buyer.. then you can do 3% down.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Jun 8th 2015
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Michael Storey (ms@genevafi.com)
#110 ranked lender in Colorado - 4 contributions

Hi Ryan:We offer the Fannie 3% down program.I look forward to learning more about your scenario.

Jun 8th 2015
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,225 contributions

3% down conventional loan is allowed only if you are a first time buyer or meet certain income requirements. Let me know if I can help, I've worked with other customers in CO - pdumouchel@pimelending.com

Jun 8th 2015
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