The Fannie Mae My Community 97 mortgage loan program allows borrowers to buy a home with a down payment as low as 3%. Similar to FHA the My Community 97 loan program has slightly less restrictive guidelines then FHA.
The My Community 97 Loan has been carrying higher interest rates than it originally did in the beginning. Another alternative would be Freddie Mac's Home Possible mortgage, with similar qualifying factors.
This
is not a commitment to lend. Restrictions may apply. Information is
subject to change without notice. All loans are subject to credit
approval.
Equal Housing Opportunity.
This
is not a commitment to lend. Restrictions may apply. Information is
subject to change without notice. All loans are subject to credit
approval.
Equal Housing Opportunity.