- Minimum Down Payment of 3%
- Private Monthly Mortgage Insurance (PMI) required with less then 20% Equity
- PMI will go away once 20% equity is reached in property
- Rates typically higher then FHA
- Rates are more credit score sensitive then FHA
- Stricter credit guideline then FHA
Contach Horizon Home Mortgage today to see if this is the right Loan for you!!