Frequently Asked Questions and Answers to the new Conventional 97% Mortgage.
Is the Conventional 97 a government-backed mortgage program?
Yes, the Conventional 97 mortgage program is backed by the government. It’s offered via Fannie Mae only. The program is not available via Freddie Mac, nor is it available via the Federal Housing Administration (FHA), Department of Veterans Affairs (VA) or the U.S. Department of Agriculture (USDA).
Continue reading Conventional 3% Down Mortgages 27 FAQ’s
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If you are a typical Raleigh family who lives in Wake County and is a first time home buyer with two children and a household income that is less than $62,500 you could qualify for assistance Down Payment Grant from the State of North Carolina of up to $8,000 to be used towards the purchase of a new home priced up to $220,000 or an existing home up to $210,000! Another little know down payment grant is available from the Federal Home Loan Savings Bank of Atlanta that will actually give you a five to one (5:1) matching program towards your down payment, points and closing costs!