CIT Bank Low Down Payment Program: Introducing Fannie Mae’s HomeReady® Program – a conventional loan program designed to help moderate income households, who can’t afford a large down payment, qualify for an affordable mortgage.
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CIT Bank Low Down Payment Program
HomeReady enables borrowers to potentially qualify for a mortgage with only 3% down and buyers who qualify will benefit from taking the required online home ownership course – the Framework® Homebuyer Education Program. This helps answer your questions about the home buying process and prepares you for the costs and responsibilities of owning a home.
- Extended households may help you qualify – If your household includes members who won’t be included on the mortgage – such as relatives or roommates – their income may help you qualify.
- Others who don’t live in the home can join you on the mortgage – Co-borrowers on a HomeReady mortgage are not required to live in the home, so relatives or other individuals may assist you with your home purchase.
- Down payments as low as 3%- Ideal for home buyers who can’t afford to make a large down payment.
- Savings over the life of the loan – With private mortgage insurance that may cost less over time – may be eligible to be canceled once 20% home equity is reached, unlike mortgage insurance on government-insured loans.
- Homeownership education to help you succeed – Convenient online education that prepares you to buy a home and own a home for the long run.
For more details and to see if you qualify for a HomeReady Mortgage, talk to CIT Bank’s specialists.
CIT Bank’s mortgage specialists will help you choose what’s right for your unique financial situation.
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If you’re looking for a conventional loan program designed to help moderate income households, who can’t afford a large down payment, qualify for an affordable mortgage, hopefully this CIT Bank Low Down Payment Program post helped you! Let us know if it did in the comment section below! Let us know about your thoughts and experience with CIT Bank in the comment section below! If you’re interested in more info regarding CIT Bank offers, check out our full listing of CIT Bank Deals, CIT Bank Bonuses, & CIT Bank Promotions. Be sure to check back on BankDealGuy for more bank deals!
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