Fannie Mae’s New My Community Mortgage is affordable financing to serve low-to-moderate-income borrowers..

Income limits apply based upon the county of residency, and homebuyer education and counseling is required for first time buyers. Reduced fees for mortgage insurance is offered with the program, a substantial savings over FHA financing.

In some cases, My Community Mortgage may be a better option than FHA.

Program details:

  • Owner occupied purchase loans to 95% LTV with a minimum 620 FICO.
  • No overlays—if accepted by DU, we fund the loan without any additional requirements.
  • Combined loan to value to 105% permitted on loans that meet community second guidelines.
  • 100% of down payment can be a gift.
  • Reduced premium & No MI option available

Elite Financial is proud to offer the New Fannie Mae My Community Mortgage to assist low-to-moderate income borrowers and families achieve home ownership. Call today to see how you can benefit from the release of this programs and achieve your part of the American Dream.