FHA- No Pmi - No minimun credit required - Charleston
Our program is a CRA based, 1st time homebuyer loan with a minimum of 5% down payment which can come from a gift or grant, requires no mortgage insurance, and no minimum credit score. The credit does need to be clean and I can also use alternative credit if necessary, cell phone, utility, insurance bills, etc. The rate is the market Fannie Mae 30 year fixed rate minus .25%. They are required to have a minimum of 3 months reserves. Ultimately, this is common sense loan which will be approved by a local person.
We only have a limited amount of funds left so please let me know if you have someone interested.
Michael A. Chase, CMPS
Area Manager-Charleston/Hilton Head
NBSC - Synovus Mortgage
230 Seven Farms Drive, Suite 101
Charleston, SC 29492