Have you considered a Conventional loan?
A conventional loan from SouthPoint can come in a variety of options with both fixed and adjustable rates and generally have the most competitive rates. These loans are conforming, non-government and are guaranteed by Freddie Mac or Fannie Mae. Conventional loans are great options for home buyers with good credit history and may have down payments as low as 3%.
- Loan limit of $453,100
- 95% maximum LTV or 97% with certain programs
- Gifts may be allowed
- Mortgage insurance can be avoided with 20% down payment, or may be eliminated once the home reaches 20% in equity
- Competitive rates and fees