There are a lot of variables that determines the maximum loan to value on a conventional loan. The type of property, the zip code in which the property is located, the credit score of the borrower, the debt to income ratio of the borrower and the reserve requirements just to name a few. With that said, assuming all is ‘perfect’ you can go with as little as 3% down on FannieMae Homepath loans, but those are specific to FannieMae designated foreclosures. A good rule of thumb would be to think 5% down for conventional. 3.5% is a good number to aim for with FHA type of financing. Let’s connect to go over alllllll of the options to determine which one works best for you!
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