At Lenderful we want you to be in control when getting an online mortgage, so it’s important for our borrowers to understand the mortgage options available to them.
3% Down HomeReady
HomeReady is a low down payment mortgage for creditworthy, low to moderate-income borrowers. HomeReady™ allows a down payment of just 3% on a home and permits the “income pooling” for all of the members of a household. Both first-time or repeat home buyers are eligible.
- Low down payment; as little as 3% down for home purchases
- Flexible sources of funds with no minimum contribution from borrower’s own funds
- Non-occupant borrowers permitted
- Cancellable mortgage insurance (restrictions apply)
- Reduced MI coverage requirement for loan-to-value ratios above 90% (up to 97%)
Conventional High Balance
Get a conventional high-balance loan — even if you are outside of the counties eligible under Fannie Mae and Freddie Mac — instead of having to get into a Jumbo loan. Details include:
- Min 680 FICO
- Max 80% LTV/43% DTI
- Loan amounts from $453,101–$679,650
- Eligible for primary and second homes
- Lower rates, easier guidelines and fewer docs then Jumbo
*Conforming in all material respects except for loan amount in certain markets.
Jumbo 90% LTV
Jumbo 90% LTV with no M.I. gives you the option of making a lower down payment or the ability to increase your buying power.
- 30-year fixed
- 720+ FICO
- Up to 90% LTV
- No mortgage insurance
- Primary homes
- 43% maximum DTI