This weekend will bring more changes to the available conventional loans.
Fannie Mae’s newest version of their Automated Underwriting system brings maximum 95% loan to value on conventional loans. No more 3% down conventional for your great credit clients as an alternative to FHA’s expension mortgage insurance (you have it for the life of the loan!). No more 95% loan to value with one time financed mortgage insurance to get away from monthly mortgage insurance.
If you want any of the above mentioned loan options- get your loan application in this week and make sure it’s run on Fannie Mae AUS 9.0!!