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Steven Ceceri

Low Down Payment Financing Options

Monday, June 10, 2013 - Article by: Steven Ceceri - Creative Financing Options Group - Message

June 10, 2013

If you are looking for some programs with Low Down Payments, please read below for a quick description of what may be available to you:


100% Financing for Eligible Veterans (must provide a DD214 and Certificate of Eligibility for financing to be obtained).


100% Financing for Eligible Borrower's and for Eligible Property Locations. This is a Rural Housing Loan Program so there is a requirement for the population to be under a certain limit. Household income is also restricted based on family size as there are income charts to be followed to determined initial eligibility.


3.5% Down Payment which can be 100% gift funds through an acceptable source. 3 Months of PITII are required for Reserves for any 3-4 Unit Properties, which also can be gifted funds.

My Community (Fannie Mae Program)

3% Down Payment which can be 100% gift funds through an acceptable source. Available for 1-4 unit properties. Requires Mortgage Insurance which is typically less than FHA. Over 80% LTV requires a 660 or greater FICO.

The above noted programs are the most popular, but they are not the only programs available. These programs generally are for Owner Occupied Borrowers, so plan on considering these only if you will occupy the property as your primary residence.

If you would like more details, please send me a direct message offline as I would be happy to discuss our programs with you directly! Enjoy the day!

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