5 Reasons The San Diego Conventional 97% LTV Mortgage Loan Is Right For You (2017 Update)

You may be looking at all sorts of loans right now.

Seeing all those different loans may make you a little uncertain about what will actually fit you.

In order to help you, we’ve compiled this list of reasons why the 97% LTV mortgage loan will be the right fit for you.

If you want to know more about a 97% LTV mortgage loan, check out our main article on the loan, our answers to some common questions, our pros and cons list about this specific loan, and our article about the loan limits.

After reading all of this, you may want to get started on this loan.

Contact me, and I’ll help you get set up with this loan and on the way to owning a great home.

Here's a quick rundown of our list:

Reason 1 - You Need a Low Down Payment

5 Reasons The San Diego Conventional 97% LTV Mortgage Loan Is Right For You (2019 Update)

This is a huge deal in this day and age.

There are tons of people that are making enough to cover rent or regular mortgage payments, but the down payment is the biggest roadblock in the way.

In order to get around that, people can do a number of things.

There are gift funds and programs that specifically exist to help people pay their down payments.

However, this loan can make the process so much simpler.

You can get this loan and get one of the lowest down payments out there.  

This will mean that you can get the house that you need and not struggle to make that first set of payments.

Must Read: San Diego Conforming Mortgage Loans - Rates, Terms, Limits...

Reason 2 - You Haven’t Owned A Home in A While (Or Ever)

5 Reasons The San Diego Conventional 97% LTV Mortgage Loan Is Right For You (2019 Update)

The restrictions of the loan work specifically for new homeowners that haven’t had a chance to own a house.

However, the restrictions also work for people that had to sell their homes and move and need a new home again.

This means that this loan doesn’t just work for new homeowners, but for those that need to get back to a physical home.

Many young adults step back and don’t purchase a home until they’re starting a family, which means that this loan program will be able to help them get settled before they start their family.

However, just because the requirements seem to be geared more towards new homeowners doesn’t mean that you can’t get involved with this program too.

In order to qualify, you need to not have owned a home in the last three years.

There are people out there that can qualify for this particular loan program even if they have owned a home in the past.

If you haven’t owned a home in the last two years, then you can try and wait the extra year before you start seriously looking for that dream home.

Search Now: See the latest San Diego homes, townhomes, and condos for sale… 


Blog Post Interrupt – How Is Debt to Income (DTI) Calculated? 

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Reason 3 - You Don’t Need Rent Income

5 Reasons The San Diego Conventional 97% LTV Mortgage Loan Is Right For You (2019 Update)

With this loan program, you won’t be able to purchase a home that is larger than a single unit.

However, if you don’t necessarily need the rent income then it might be fine.

This also means that you won’t be spending a lot of time working on being a landlord.

While the process would bring in more money, it can also be a pretty big responsibility and a little bit of a hassle for people that are spending a lot of time at work.

So if you don’t need the extra hassle as well as the extra money, then this loan will be a perfect fit for your life.

San Diego Homeowners: We have qualified buyers desperately seeking to buy immediately and pay top dollar…

Reason 4 - You Need a Home (Duh)

5 Reasons The San Diego Conventional 97% LTV Mortgage Loan Is Right For You (2019 Update)

If you’re moving to a new city or newly married and you’re looking for that first home, this loan is going to be a great fit for you.

Whether it’s the job, the family, or it’s simply just time for you to have a home, this loan will help make it a reality.

Getting a home is a way of making yourself feel more grounded where you are.

So getting a home may be the best thing that you can do for yourself, even if you aren’t moving somewhere for a new job of trying to start a family.

You might need one because you believe that it would be better in the long run to have a home.

Once it is paid off, then it is your until you decide to get rid of it.

That means that this first little home may be where you live for quite a while, but then you will eventually move to a new home and then use this one as a rental unit.

Need Money? Whether you are a first time home buyer, currently own, or have owned in the past – you can get money to cover your down payment and closing costs – see the best programs now…

Reason 5 - You Have Decent Credit

5 Reasons The San Diego Conventional 97% LTV Mortgage Loan Is Right For You (2019 Update)

Part of the requirements is that you have a credit score of at least 620.

This can be both good and bad.

The reason for having a minimum credit score is because of risk associated with lower credit scores.

You don’t have to have to have the best credit score in the world, but you have to have a decent amount.

This proves to the lenders that you won’t be a major risk to them by letting you borrow money.

Of course, even if you have decent credit, you might miss a payment.

There will be PMI on your loan which is a monthly interest insurance that will be based on your credit score as well as the loan amount that you have.

This requirement may be a bummer for some people that really need to get a home, but there are other programs that can help individuals with lower credit scores get into a home.

If you want to know more about a 97% LTV mortgage loan, check out our main article on the loan, our answers to some common questions, and our article about the loan limits.

If you are uncertain if the loan is the right fit for you, then you may want to check out our article with the reasons why the 97% LTV mortgage loan is right for you.

What do you think?

Leave a comment below - or, call/text me at (760) 297-4539

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