The best Mortgages we offer you today

There are 3 major government agencies that control the mortgage industry and they are Fannie Mae, Freddie Mac and FHA. All 3 agencies give monies to the big banks such as Chase, Citibank, Wells Fargo and etc. Each agency has a set of guidelines that the Big Lenders needs to abide by. Below is just a few reasons why select Fannie Mae for our clients, although we do have a fantastic relationship with FHA for borrowers that fit their guidelines such as low down payment with credit scores as low as 500 and Fannie Mae has its guidelines….take a look.

• Higher loan limits in most states/counties
• Lower credit score required (620 for FNMA)
• No upfront MIP, (Mortgage Insurance Premium, like is required by FHA)
• More competitive MI ( mortgage insurance) rates are available
• Monthly MI (mortgage insurance) may be removed at a future date. FHA LTV > 90%, monthly MI is for the life of the loan.
• Single pay MI is available and may be paid by the seller to remove the payment from the QM calculation
• Less documentation required
• Appraisal cost is less
• Less follow up on property condition
• No borrower contribution required.  3% down payment may be a gift.
• No maximum DTI (debt to income).

To learn more contact our office and speak to a loan consultant.