Low Down Payment Mortgage No Pmi

If you have a 5- to 10-percent down payment, one of these loan options may be just what you’re looking for. Recently, two new low down payment options became available to home buyers: federal housing association (FHA) loans with mortgage insurance that was just lowered 0.5 percent, and Fannie Mae/Freddie Mac loans with 3 percent down.

 · A low down payment mortgage option is available to today’s home buyers. The 97 percent LTV program can be used to refinance, too. Q&A plus access to live rate quotes.

 · Down payment as low as 3%. No PMI. Cannot own another property at time of purchase. Fifth Third Bank offers a zero down payment mortgage with no private mortgage insurance to medical doctors, podiatrists and doctors of osteopathy in Florida, Georgia, Indiana, Kentucky, Michigan, North Carolina, Ohio, South Carolina, Tennessee, West Virginia.

Conventional 97 loan Program: Conventional mortgage with just a 3% down payment. Low PMI that cancels after the LTV ratio reaches 78%. Get Approved Now

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Private mortgage insurance, or PMI, is required on most home loans with a down payment of less than 20%.It protects the lender in case you were to default on your loan. FHA loans are the most expensive when it comes to mortgage insurance. Because of the low down payment, borrowers will pay an upfront mortgage insurance premium (UFMIP) of 1.75%.

Advantages of SunTrust’s HomeReady/Home Possible include down payments as low as 3% down and seller contributions and gift funds allowed.. private mortgage insurance (PMI) can help aspiring homebuyers to move in with less than 20% down.. Mortgage products and services are offered through SunTrust Mortgage, a tradename for SunTrust Bank.

. into a first and second mortgage without private mortgage insurance. Get a conventional loan that eliminates PMI when you reach 78 percent equity.. You might get an FHA or VA loan with a down payment as low as zero,

If your down payment on a home is less than 20 percent, you will have to pay for mortgage insurance. When you make a down payment of less than 20%, the lender requires private mortgage insurance..

Introducing Huntington federal savings bank’s Low Down Payment Purchase Mortgage. As little as 10% Down with no PMI. At Huntington Federal, we never sell our loans on the secondary market.