Here is another loan program with only half percent down payment with a minimum 580 fico score which can also contribute towards your closing costs as well. This is an FHA CHF Access under 4% 30 yr fixed rate loan which you could close with under 6k with paying your own closing costs for a stronger offer and keep 34k. The payments on an approx 4% fixed rate half percent down would be only $1,400 down and $2,013 PITI @275k.
You may also consider 3% down conventional financing with a minimum 700 fico or 5% down with a minimum 660 fico score? I can go over program rates and terms you may consider in minutes over the phone so give me a call to discuss options...
I noticed your avitar is showing home owner, if you are currently a home owner, you will need to qualify with both payments included in your debt to income ratio and qualifying purposes. If you want to rent out your current home and buy another bigger, better newer home, you may qualify without including your first house payment. I only need a few minutes to ask a few dozen questions to determine what options you have and which would benefit you the most financially.
Here is a link, flyer, maximum income limits for CHF Access and a needs list to gather for processing a loan approval.
CHF Access half percent down flyer, pdf
Sheryl Arndt, standard needs list checked, pdf
CHF Access income limits http://tinyurl.com/8lzf8he
Sheryl Arndt, Real Estate Broker â€“ Sr. Loan Officer CA only
REO & Short Sale Specialist
20+ Years Experience
Discuss your goal with a competent loan officer.