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A conventional loan that doesn’t require 20% down? (No, really) | Home & Living | pilotonline.com

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Not so fast. There is another, lesser-known loan program called the HomeReady mortgage from Fannie Mae. With the HomeReady mortgage, you can use as little as 3 percent for the down payment. The 3 percent option is also lower than a typical FHA loan, which requires a 3.5 percent down payment. In addition, the mortgage insurance may be canceled when the homeowner reaches 20 percent equity in the property. The benefit could leave you with a lower monthly payment in the future.

Source: A conventional loan that doesn’t require 20% down? (No, really) | Home & Living | pilotonline.com

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Rodwell Smith

Rodwell Smith and RodwellBuildingServices, Inc., has over 35 years of progressively responsible experience developing and modernizing real estates for individuals, corporate and government entities. Rodwell has sold and procured over $270M real property improvements; managing the projects from selection, inception, through design, through construction; quality assurance, surveying quantity, turnaround delays and augmenting progression to completion. RodwellBuildingServices™ benefits keen real property sellers, buyers and users in Washington, DC and up to 50 miles around Maryland and Northern Virginia with the real services and the right property for their order!

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