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Low Money-Down Loan

February 14, 2017

Many people are interested in owning a home, but are unsure how to make that happen. They may have several student loans, don't have a large down payment saved, even have family members as roommates to make ends meet. This often discourages people from believing they can own a home any time soon. But there is a solution available that they may not be aware of!

 

Fannie Mae has a HomeReady mortgage. It offers a loan with as little as 3% down. Home buyers can also use income from someone that is not on the loan, but living in the home, such as a grandparent, children, extended family, and even some non-relatives may help qualify.

 

Another great feature is the co-borrower. They do not have to live in the property to be on the loan. For example, parents can now co-sign to help their children qualify. Some income limits may apply.

 

Renting out the basement or a bedroom to a roommate? These rent payments may be considered as income to help qualify.

 

Contact us today to find out if your situation qualifies for this unique home loan program.

 

 

Ron Meyer
GSF Mortgage Corporation
300 Patriot Dr.
Little Chute, WI 54140
(920) 788-9608
rmeyer@gogsf.com
NMLS #222688 & 1018