100% Financing with a Key Community Mortgage

I've had some great success with this program, wanted to let everyone know to know it does exist!!!

What is a Key Community Mortgage?

• 100% Financing Allowed
• No Mortgage Insurance
• 30 Year Fixed, no prepayment penalties

What Does It take to Qualify?

• Property located in Low or Moderate Census tract OR
• Borrower's Household Income below County limit (example: $57,440 for Benton County)
• 42% Maximum Debt to Income Ratio
• Must be able to document a satisfactory 12 month rental history
• Cannot own another home at time of closing
• 620 Minimum credit score
• No outstanding medical collections over $1000
• No outstanding consumer collections over $250
• Bankruptcies must be discharged for 48 months with reestablished credit
• $500 Minimum investment from Buyer
• Client must be able to document 1 month PITI payment is in savings at time of closing
• Gift funds ARE allowable
• Borrower must complete Homebuyer Counseling Prior to Closing
• Borrower's with student loans in deferral and no payment listed on credit report will have an assumed monthly payment of 3% of the total balance

Do you qualify? Is now the time to buy your first home?

This is a terrific program offered through KeyBank Mortgage. For more information on this or other Homebuyer programs please contact me!