Items Tagged with 'Low down payment mortgage options'

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  • Caliber Home Loans rolls out jumbo loans with 5% down and no mortgage insurance

    Borrowers can qualify for $2 million with 5% down and 740 FICO score
    With home prices continuing to rise without any relief in sight, more lenders are beginning to offer new jumbo mortgage products in an attempt to keep up with those rising prices. Now, Caliber Home Loans is unveiling a new jumbo mortgage program of its own – and this one features loans of up to $2 million with as little as a 5% down payment and no mortgage insurance.
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  • Freddie Mac takes aim at FHA with widespread expansion of 3% down mortgages

    New HomeOne mortgage has no geographic or income restrictions
    It’s been more than three years since Freddie Mac rolled out a conventional mortgage that only required a 3% down payment for certain borrowers. But now, Freddie Mac is about to supercharge its 3% down program and launch a widespread expansion of the offering that puts Freddie Mac in direct competition for mortgage business with the FHA.
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  • Land Home Financial Services rolls out zero down payment mortgages

    Lender will gift borrowers 5% to be used for down payment, closing costs
    In the last few years, several lenders unveiled ultra-low down payment mortgages, with some requiring no down payment from certain borrowers. Now, another lender is rolling out a zero down payment mortgage of its own – Land Home Financial Services.
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  • Wells Fargo's fake account scandal didn't dent 2016 mortgage business

    Here's a full breakdown
    Wells Fargo spent much of the latter part of 2016 cleaning up the mess from its massive fake accounts scandal and trying to repair the damage to its reputation, but the bank’s mortgage business certainly didn’t suffer last year. Here's a full breakdown of Wells Fargo's 2016 mortgage business, including how many 3% down mortgages the bank originated.
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  • Bank of America doubles down on 3% down mortgages without insurance

    Expands "Affordable Loan Solution" for low- and moderate-income homebuyers
    Earlier this year, Bank of America, in partnership with Freddie Mac and Self-Help Ventures Fund, began offering mortgages that only required consumers to put down 3% and did not require the consumers to obtain mortgage insurance either. Bank of America said Thursday that the "Affordable Loan Solution" program is proving so successful in its first few months that the bank is doubling its annual commitment to the program – from $500 million to $1 billion.
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