3% Down Conventional Loans
I recently submitted an offer for a buyer client of mine on a small home priced at $225,000 in a north Denver suburb. The home went on the market at 3:00p.m. and by 6:00 p.m., when my cash buyer submitted his offer—at almost $25,000 over asking price—there were already three other cash offers very similar to his on the table and five additional offers received. This scenario is far from uncommon. Needless to say, an FHA or VA buyer would stand no chance at owning this home; a buyer simply must be a conventional buyer to even be considered by most sellers. So, what do you do when you simply don’t have the typically required 5% down payment required to obtain conventional financing? Colorado Mortgage Alliance offers one option—a 3% down conventional product. See below for more details.