Low Down Payment Loans with No PMI

Low Down Payment Loans with No PMI

Many home-buyers, especially first-time buyers, don’t have a large down-payment saved and most home buyers don’t want to waste money paying for mortgage insurance.  If you are dreaming of owning a home but don’t have the nest-egg for a large down payment and you don’t want to pay for private mortgage insurance (commonly known as PMI), now there is a solution.

Most lenders require you to put down 20% to avoid mortgage insurance.  Hurst Lending & Insurance is pleased to offer 3% or 5% Down Payment Home Loan with no PMI.

You can get a conventional, 30-year fixed rate loan with just 3% or 5% down and there is… yes I said it… no mortgage insurance.

Competitive Interest Rates – on No PMI Loans?

The best part of our program is that our 5% down program has rates that are comparable to normal, conventional mortgages.  If you want to put down less than 5 percent, that is fine, the rate will be just a little bit higher than a normal 30 or 15 year conventional mortgage.  For example, the 3% down mortgage program has rates that are approximately 1/2 of a percent higher than comparable conventional mortgage rates.

But What About Closing Costs?

The closing costs and the closing process for our low down payment mortgage loans are the same as any conventional loan.

Will This Slow Down the Home Buying Process?

Not at all! Generally, our low down payment, no PMI loans close within 30 days, just like any conventional loan. Even our 3% down mortgages typically close in 30 days.

Is the Low Down Payment, No PMI Loan program available to everyone?

Unfortunately, low down payment no PMI loans are not available in every county, but the program is widely available throughout the states where we lend – including Colorado, Florida, Georgia, Louisiana, Georgia, Connecticut, Oregon, Iowa,Virginia and Texas, with more to come.

Let us help you start settling into your new home, with as little as a 3% down payment.  We also offer 0% down VA loans for military vets.  Contact us today.

Note: The 3% Down Payment program may not be available in all areas or to all borrowers.  Contact us for details.

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