3 reasons to support 3% down payments

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Foreclosures drop to lowest level since 2007 Foreclosure filings and repossessions fell 33 percent in the U.S. last year to 2.7 million, their lowest level since 2007. hot feature: retail sales Rose Just 0.1% in December According to RealtyTrac,

"We have a fairly low [rental] vacancy rate of around 3%," he says. "Five percent is considered a healthy. for an.

On the downside, you’ll have a slightly higher down payment of 3.5% and your mortgage insurance will likely be more expensive and tougher to get rid of. For veterans, VA loans offer 0%-down.

Conventional 97 low down payment mortgage. In this article: The Conventional 97 is a low down payment mortgage program that might be perfect for you: The program allows first-time and repeat buyers. Its minimum down payment is just 3 percent. The property must be a primary residence with a loan not exceeding $453,100.

3% conventional loan requires lower down payment than the 3.5% FHA loan. Going by the requirements of the two mortgage types, the conventional loan attracts only 3% (three percent) down payment of the amount of mortgage applied for while the federal housing administrating loan requires a payment of 3.5% (three-and-a-half percent) of the mortgage that the borrower is applying for.

It is getting easier for some buyers to land a house with less money up front. More lenders are lowering down-payment requirements, allowing borrowers to commit 3%-or even less-of a home’s.

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Pending home sales rise for 15th straight month US Pending Home Sales Rise for Third Month in a Row May 15 , 2015 delena ciamacco, Realtor® Blog Home We have some excellent news to report from the national housing market: Evidently US pending home sales index increased for the third straight month in April.

Here’s what you need to qualify for Bank of America’s new loan. The 3% down payment. You must purchase a primary, single-family residence, with no reserve funds required in most situations. Borrowers may use secondary financing, such as an affordable second loan, grants, or even cash they have on hand.

Ask The Mortgage Nerd! How to buy a home with 3% down and no PMI The Conventional 97 gets its name from its small 3% down payment requirement. This program is best for home buyers who would otherwise qualify for a standard conventional loan, but don’t want to make a large down payment. Fannie Mae and Freddie Mac sponsor the program, which makes it widely available nationwide.

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90-year-old WWII vet returns to home after eviction 90-Year-Old WWII Veteran Able To Get His Home Back After Being Evicted.. for the greatest generation and just felt really compelled to help out a veteran who had just been evicted from his home." The 90-year-old was able to get his home back. The day he moved back, he was greeted by.