A conventional 97% LTV (loan-to-value) loan is similar to the traditional conventional loan; however, this specific program allows prospective home buyers to purchase a home with only a 3% down payment. To qualify, the following guidelines must be met:
*Other restrictions may apply.
A conventional 97% LTV (Loan-to-Value) loan is an attractive option to first-time home buyers as the qualifying guidelines typically meet their home buying profile. Another benefit of this loan program is that it allows for its entire 3% down payment to come from gifted funds; however, the gift must come from a person related to the borrower by blood or marriage, or the borrower's legal guardian, domestic partner or fiance/ fiancee.
This is the 3rd time using the Chris Squires Group - InterLinc Mortgage Services…two home purchases and one refinance. I have bought other properties in the past, and used other mortgage companies, but NO ONE compares to the customer service they provide. They walk you through every detail of the transaction, answer every question, and great follow up at every turn...they make the whole process as stress free as possible. Even though some processes had changed due to the Covid-19 pandemic, InterLinc rolls right on, adapts to necessary changes to make everything go smoothly. They are THE BEST!
