Home Buying in 45226>Question Details

Cincybound, Home Buyer in Cincinnati, OH

Are there any lenders that offer mortgages with only a 5% down payment in Cincinnati? We are looking for a

Asked by Cincybound, Cincinnati, OH Wed Apr 15, 2009

We are looking for a loan amount around $400,000, so the FHA won't work. We were told that you must put 10% down in this area because it's considered risky. We have excellent credit and stable employment we just don't want to put all of our savings into a mortgage and not have an emergency fund. If anyone knows of lenders who still allow 5%, please recommend one. We don't need a mortgage broker or a real estate agent. Thanks!

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There are programs that will let you put 1% down call me at 513-307-7771 My name is Denita Edwards
0 votes Thank Flag Link Thu Apr 16, 2009
Hello Home Buyer,

You can contact Coldwell Banker Home Loans Mortgage Advisor Mark Whitworth at 513-259-1657. I Also have a contact at Star Point Mortgage Brokerage, Heather Witt at 513-910-1576.

Happy House Hunting,
Sheri Mapes ~ Coldwell Banker Realtor
0 votes Thank Flag Link Wed Apr 15, 2009
FHA will go up to $417,000, so you will be able to go with an FHA mortgage and only put 3.5% down. I know you said you do not need a mortgage broker, but I can go up to $417,000 with FHA, as should anyone else who has the availability of FHA. If you have additional questions, you can contact me at jpick@crefco.com. Good Luck!

Joshua Pick
Sr. Mortgage Consultant
0 votes Thank Flag Link Wed Apr 15, 2009
I heard that PNC is doing this. You may also want to check Union Savings.
0 votes Thank Flag Link Wed Apr 15, 2009
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