Frequently Asked Questions
For qualified borrowers, you will be eligible for 100% financing, meaning there is no required down payment. For other borrowers, your down payment will partially depend on your credit score.
In most cases, the loan doesn’t require private mortgage insurance.
You should never purchase a home without having it inspected beforehand. An inspection allows you, the homebuyer, to have a better understanding of the condition the home is in.
Aside from an inspection, the home will need to be appraised.
Most lenders cap the loan limit at around $650,000 when no down payment is made and no PMI is issued. However, if you have a down payment, you could qualify for a higher loan limit.