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Old 03-20-2015, 04:03 PM
 
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Does anyone have any experience with one of these? Someone linked to info about them in another one of my posts, where Fannie Mae is offering these 3% down conventional mortgages. I asked the lender who pre-approved me for a 5% conventional or an FHA loan about them and he said they are "USA only"(Assume he meant USAA or USDA), which I cannot find any reference to.

If anyone knows anything about these, are there any differences between this and a normal 5% down mortgage? From what I find online, I meet the credit score requirements, there are no income requirements, and the loan wouldn't be over the max amount.
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Old 03-27-2015, 07:32 AM
 
Location: Howard County, Maryland
1,539 posts, read 1,593,766 times
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A few months ago a lender rep from PHH spoke to my office about this loan product. I don't have any experience with PHH, but it sounded as if they might be doing these loans. I could be wrong; but it might be worth a phone call.
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Old 03-27-2015, 12:29 PM
 
Location: San Jose
57 posts, read 59,793 times
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The difference between the two. Better rates, lower pmi, easier to qualify for The 95%. I used kinteca credit union last year for our refinance. I went through a broker though but seemed super easy to work with and fast closings. I also believe they offer the 97% loan.
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