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Hi. Lender info requested in N VA allowing 5% down for TH purchases?

Hi. Any information is appreciated for lenders in Northern Virginia that allow 5% down payment for TH purchases using conventional loan? Buyer has excellent credit, and stable income. Don't want to do FHA.
Thanks in advance!
  • July 22 2010 - Fairfax
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Answers (6)

Hello Zad,

It looks like it has been some time since you posted this question. There are other loan products available where you can put as little as 3% down. You can also do a one time Mortgage Insurance Premium Payment and that can even be Lender paid, which would increase your rate, but you would save money over the life of the loan. It all really depends on the borrowers financial situation. I hope this response was helpful and still reaches you.

Take care and God Bless,

Mickey Metzger
Fairway Independent Mortgage
  • November 12 2012
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Zad, as much as many of us would like to give you our contact info so you could pick up the phone and call us, now that Zillow charges for contacts (NOT closings),  we are constrained from doing so.
You should either put in a loan quote request here  with Zillow, review profiles here of local lenders to contact, or do an online search to initiate contact. Many of us are also listed on Facebook or other networks online and you can perhaps contact someone that way.
Jim, HSOA.
  • July 23 2010
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Thank you all for the valuable input/ So If the loan is within 417000 in say Fairfax VA, any leads please?

Thanks!
  • July 23 2010
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Good point Norm...thanks! Jim, HSOA. I was assuming, perhaps incorrectly, the townhouse was below the 417K threshold...
  • July 23 2010
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standard agency or high-balance loan amount?

for standard agency (up to $417,000) many retail lenders are able to secure PMI on it in Virginia.

  • July 23 2010
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Hi Zad Kha, it is not lenders preventing up to 95% for conventional loans, it is the MI companies not allowing the mortgage insurance. There is one MI company now that is entering back into this segment for certain areas, and could be not only county specific, but ZIP code specific. However, qualifying may now be the issue. You have to run the numbers to see if which program is right for you. Jim, Home Savings of America.
  • July 23 2010
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