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THREE PERCENT DOWN PAYMENTS* ARE HERE
FANNIE MAE OFFERING A 97% LTV OPTION FOR FIRST-TIME HOMEBUYERS.
According to research conducted by Fannie Mae, the #1 barrier to homeownership for a first-time homebuyer is saving money for a down payment and closing costs. Fannie Mae is now offering an option that allows for down payments as low as 3%. The goal of the 97% LTV program is to help additional qualified borrowers gain access to mortgages.

 

Features Include:
  • At least one borrower must be a first-time homebuyer
  • Gift funds are allowed for the 3% down payment
  • Alternative to FHA program
  • Automated underwriting through Fannie Mae Desktop Underwriter with "Approve/Eligible" findings is required
  • One-unit residence only

 

Generated: 1/21/2015.  APR= Annual Percentage Rate.
*Terms of Monthly Repayment: 360 payments of $2,400.94** at a rate of 4.5% (4.556% APR) – Estimated Sales Price of $400,000.00, 3% Down Payment, estimated Principal & Interest payment of $1,965.94** plus Real Estate Taxes and Insurance of $435.00 (estimated).  Payment example is based on a FICO score of 740. **Payments are estimates. Actual Payments may be greater.
 
 
Discover why more and more homeowners turn to George Mason for a mortgage. Above all, our goal is to help you save time and money.
 
 
Find a Loan Officer

 

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4100 Monument Corner Dr., Suite 100
Fairfax, VA 22030

Toll Free: 800-867-6859

Email Us: info@gmmllc.com

Our Mortgage Loan Originators are registered and comply with the National Mortgage Licensing System (NMLS) and Registry. NMLS Consumer Accesssm, nmlsconsumeraccess.org, is a free service for consumers to confirm that the financial-services company or professional with whom they wish to conduct business is authorized to conduct business in their state. George Mason Mortgage's NMLS ID is 153400.

This is not a commitment to lend. All loan applications are subject to credit and property approval. Annual Percentage Rate (APR), and program, rates, fees, closing costs, terms and conditions are subject to change without notice and may vary depending upon credit history and transaction specifics. Other closing costs may be necessary. Flood and/or property hazard insurance may be required. To be eligible, buyer must meet minimum down payment, underwriting and program guidelines.


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