Start Your Homeownership Adventure with Confidence: 3% Down, No PMI



or call us at 812-667-5101

3% Down and No PMI Mortgage

Does a traditional 10-20% down payment seem out of reach? Does the extra cost of private mortgage insurance (PMI) seem daunting? Friendship has a solution for you!

With no government loan fees or PMI, you can qualify for a home purchase or refinance with a low, 3% down payment. This loan may not apply to credit sale properties. (i.e. foreclosures).


This May Be the Home Loan for You If...


The home will be owner-occupied.
You have 3% of purchase price for a down payment.
The home is stick built, modular, or non-manufactured.
You have a 675 minimum credit indicator score. 
You need to borrow $300,000 or less. 


3 Helpful Steps to Take Before House Shopping

Before diving into the exhilarating world of house hunting, take a moment to craft a strategic plan. Here are three essential steps to ensure a seamless journey through the home shopping and buying process:

Step 1: Consult with a Trusted Mortgage Lender:

Schedule an appointment with a Friendship mortgage lender. They specialize in meticulously reviewing your financial landscape to provide tailored guidance. From assessing pre-qualification options to understanding long-term financial goals, we've got you covered.
 
Pre-qualification offers invaluable insights into your borrowing capacity, streamlining the home buying process and offering clarity on affordability.

Step 2: Define Your Monthly Budget:

Align your ideal monthly house payment with your lifestyle. Remember, you don't need to max out your pre-qualified amount. Craft a buying budget that reflects your unique needs and aspirations.
 
Consider factors like a passion for travel, concerts, or unique restaurant experience. Ensure your mortgage payments leave room for a life you enjoy without compromising financial stability. You'll also want to prioritize setting aside funds for emergencies and retirement to safeguard your future.

Step 3: Craft a Budget-Friendly Plan:

As you embark on the exhilarating adventure of home buying, resist the urge to succumb to impulsive decisions. Develop a comprehensive plan outlining your non-negotiables, high priorities, and the level of effort you're willing to invest in the purchase.
 
Clarifying expectations will shield you from rushed decisions and guide you towards a home that perfectly aligns with your financial goals. 


Ready to Start Your Homebuying Adventure?



or call us to schedule an appointment at 812-667-5101
 
We're dedicated to supporting you every step of the way as you embark on this exciting journey towards homeownership. 
 


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