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Fannie Mae's My Community Mortgage
 Up
to 100% financing for 1 unit homes and also allows the seller to
contribute up to 6% in concessions to pay all of your closing costs.
Have the luxury of paying primary mortgage insurance at reduced
requirements. Must be at or below the area median income.*
*Based on area median incomes provided to Fannie Mae by the U.S.
Department of Housing and Urban Development. to view area median income for your county.
Fannie Mae's Flex 100
This program does not require the borrower to make a down payment.
However, the borrower must contribute a minimum of 3% or $500 (which
ever is less) toward the closing costs and prepaid items of the loan
transaction. This program is an excellent program for first-time
homebuyers or those who want to put the least amount down as possible.
Fannie Mae's Expanded Approval Loans
Allows for approval of loans that fall outside of traditional
underwriting guidelines. Because of credit issues, higher debt loads or
other risk factors present in the loan, we can now offer competitively
priced financing options to borrowers who may have otherwise been
denied. Fannie Mae's Expanded Approval Loan program offers borrowers
very competitive loan terms and interest rates.
"Stated Income" Loans
Designed specifically for the borrower desiring no income documentation
requirements as a condition of loan approval. Requirements include that
a borrower be self employed for a minimum 2 years in the same business.
If the borrower is a salaried borrower, then they must have been
employed for a minimum 2 years in same line of work.
"Rehab" loans for Investors
- No payments for 6 months
- 85% - 100% of project costs
- Up to 75% After-Repair Value
-
Two-week closings
- No prepayment penalty
- Fast rehab funds
- Proof
of funds letters
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