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Cecelia Marlow's Blog

By Cecelia Marlow | Mortgage Broker
or Lender in Chicago, IL

Good News for Homebuyer's.... Lower Down Payment Available for Conventional Financing!

Good news for buyers.  Recent updates with Mortgage Insurance companies have expanded Conventional financing to allow borrowers financing options down to a 620 Credit Score with only 5% Down Payment.  This is good news for all buyers on the fence.  There are only certain Mortgage Insurance Companies that will ensure these loans, so be sure to go with a lender that understands the criteria needed to get approved.  All lenders are not created equal.  Also, be sure to understand that I am not promoting that individuals and families with unhealthy credit reports purchase a home.  I do believe in buying a home with integrity, meaning the capacity to pay those you owe and afford future obligations.  Low credit scores do not always mean bad credit.  I have seen credit reports with less than 700 credit scores where maybe an individual just didn't have a lot of credit, or maybe there were previous life circumstances that they have now overcome.  The key with this program is to ensure that fiscally responsible individuals who want to take advantage of such a low interest rate environment are able to do so with some investment into the transaction.  For more information call me today!

Cecelia Marlow
Chicago Bancorp
Mortgage Banker

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