There are many buyers in this market that are holding off from buying because of money down issues. Many of these buyers have great jobs, great credit and are more than ready for home ownership, but are unable to take advantage of today’s low interest rates and great deals. The folks at Minnesota Home Loan Partners and Cornerstone Mortgage just yesterday unveiled 100% financing. This program is designed for first time home buyers and creates an opportunity for you to buy now in order to take advantage of today’s home affordability and low interest rates.
Conventional 100% financing
680 minimum credit score
45% Debt-To-Income ratio or less
NO Mortgage insurance needed
Must be first time home buyer (not owning a home in the previous 3 years)
Up to 3% in seller paids allowed
Income limits of $84,000 a year for a family of 1-4 people