Conventional Mortgage Loan

Mortgage Amounts Per County

Down Payment

Minimum down payment for an owner-occupied residence (first time homebuyer) 3%
Minimum down payment for an owner-occupied residence (NON-first time homebuyer) 5%
10% for second home.
15% for investment home.

Private Mortgage Insurance (PMI)

Required on any home where down payment is less than 20% with options to avoid a monthly premiums with less than 20% down

Seller Contributions

3% maximum on LTV of > 90.01%
6% maximum on LTV 90% LTV or less
May add usual and customary on top

Qualifying Ratios

Qualifying front-end housing ratios and back-end debt-to-income ratios are dependent on loan program guidelines and credit scores.