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3% Down Solution Loan
The 3% Solution Loan is here because... A Buyer's and Seller's limitation of
funds shouldn't stop an escrow from closing.
Sometimes a first-time home buyer and seller can't close the sale because of a mutual
shortage of funds. That's when the 3% Solution comes to the rescue. The Lender can pay for
most of the buyer's closing costs to help close escrow.
Features:
 | Lender will pay buyer's fees i.e. underwriting, appraisal, credit report, title
insurance, escrow, recording, notary, tax service, document preparation, flood
certification and wire transfer. |
| Choice of down payment programs:
 | 3% down - 97% loan to value - 30 year fixed rate loan |
| 5% down - 95% loan to value - fixed rate or adjustable rate mortgage |
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| County income limits:
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| Expanded income to debt qualifying ratios: 39% (higher with compensating factors) |
| Choice of affordable loan programs:
| ARM loan (choice of 6 month CD index, or 6 month T-Bill Average index) |
| 30 year fixed rate loan |
| 5/1 Treasury index loan (rate and payment fixed for 5 years; starting 6th year annual
change) |
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| Property qualifications: detached single family residence, 2-4 units, condominiums, and
PUDs |
Make a selection from your "Window of Opportunity" (left)
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