Low Down Payments on Luxury Mortgages
A new loan program with high mortgage limits and a great down payment has become available in DC / MD / VA as of July, 2015! Qualified buyers will be able to borrow on up to a $790,000 sales price and will only be required to put 5% Down!
This is a local loan program is new and available through a local preferred lender. Contact us at Info@UrbanLandCompany.com for more loan details.
Basic details are as follows:
- Currently a 3.625% rate on a 5/5 ARM with 1 point
- 700 Credit Score required
- Allows 100% Gift Funds & Non-Occupant Borrowers to aid in qualification
- Requires 6 months in reserves
- May be used on Non-Warrantable Condos on a case by case basis