Buy a new home for only 3% down
Our loan products let you put just 3% down, making it easier for you to buy a new home.*
- Terrific alternative to FHA
- Available for 30 year fixed-rate
- Owner-occupied single-family residence or condo are eligible
- Gift funds may be used
- No max income restrictions for first-time homebuyers
- Reduced mortgage insurance if you meet income limits or live in targeted area
*Sample monthly Principal and Interest (P&I) payment of $1,474 is based on a purchase price of $300,000, down payment of 3%, 30 year fixed rate mortgage and rate of 4.500/5.277% APR (annual percentage rate). Advertised rates and APR effective as of 04/09/2018 and are subject to change. Above scenario assumes a first lien position, 740 FICO score, 55 day rate lock, based on a single family home in Illinois and are subject to change without notice. Subject to underwriting guidelines and applicant’s credit profile. Sample payment does not include taxes, insurance or assessments. Private Mortgage Insurance (PMI) will be required for all FHA loans as well as conven- tional loans where the LTV is greater than 80%. Actual payment obligation will be greater. Not all applicants will be approved. Applicant’s interest rate will depend upon the specific characteristics of applicant’s loan transaction, credit profile and other criteria. Contact Guaranteed Rate Affinity for more information and up to date rates. Applicant cannot own any other property at time of closing. Homebuyer education/counseling may be required.