100% Financing does still exist in Delaware and Citizens Bank has it!

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Citizens Bank has 100% Conventional Financing with NO PMI!

Many people today that currently own homes have less equity than they did just a year or so ago.  While many are still liquid, the result is that they have less of a down payment going forward into their new home.  Typically that means higher interest rates accompanied by Private Mortgage Insurance (PMI). 

This program offered by Citizens Bank is tailored for just such a situation.  While we all would like to put down as much as possible on our new home, today's economy is forcing everyone to be realistic in their decision making.  Programs like this one are allowing qualified applicants to move forward with reasonable fees and great rates.

Today's rate is 3.875% + 0 points (moderate income) and 3.375% + 0 points (low income).

Of course, there are some restrictions and guidelines.  A brief overview is as follows:

• Owner occupied principal residence only
• Non-occupant co-borrowers are not allowed
• Owning no other real estate at the time of closing- SELLING OLD HOME SAME DAY IS ALLOWED!
• Income limit $64,640/year for moderate income and $40,400/ year for low income in NCCo
• No income limits in targeted census tracts
• Property must in in the State of Delaware
• Max DTI ratio of 45%
• Minimum FICO score of 660 is required
• Home ownership counseling is required prior to closing

Some of the benefits of this program include:

1. Buyers will likely qualify for more house
2. Can be combined with the NCCo and Wilmington Down Payment Assistance programs
3. All the flexibilities of My Community Mortgage Underwriting with Citizens Bank

Call Dave Sorber at Citizens today for more details at 302 421-2233 or click here for more info and an application.  Dave is a great guy, we have used him for years, and you will be glad you called him.

Marketed by Erik Hoferer & Associates
Direct:  302 299-1111 or 610 268-5727