Great news! MetLife McDuffie & Mr. Mortgage now introduce 95% loan to value (LTV) conventional financing again! Over the past 24-36 months, most conventional financing over 85% has been eliminated due to the lack of Private Mortgage Insurance companies insuring these loans. However, through a strategic partnership, we’ve identified a company that will insure conventional mortgage loans with only 5% down! To answer your question…yes, there are some requirements as outlined below.
- 680 minimum FICO
- Max debt to income (DTI) ratio is 41%
Typically if you only had 5-10% down, one of the only options available was FHA financing. FHA is a great loan, however some people don’t like paying the upfront MIP (Mortgage Insurance Premium) to FHA to get the loan. Now, we have more option to offer to you, your clients and your friends.
-Mr. Mortgage
“Ideas don’t make you successful, execution makes you successful.” We execute.
Eric Burgess has written 75 articles on Mr. Mortgage @ Mason McDuffie Mortgage
