Fannie MaeHome Ready Mortgage lowers down payment requirements to 5.00% on Conforming High Balance Conventional Loans to 600,300!

High Balance Conforming Mortgages to Reduce Down Payment Requirements TO 5.00% DOWN PAYMENT

Fannie Mae has announced that effective mid-December 2015; high-balance conforming mortgages will have lower down payment requirements (5.00% DOWN PAYMENT). “high balance conforming” mortgages are loan amounts that are higher than “traditional” conforming loan limits up to $600,300 mortgages and are available only in certain counties that are considered to be “higher cost”. In Utah, currently (2015) Salt Lake County, Summit County and Tooele County have “high balance conforms” loan limits.

High balance conforming mortgages in Utah have different guidelines than traditional conforming conventional mortgages, including loan to value and/or down payment requirements. Current conforming high balance guidelines requires a minimum (10% DOWN PAYMENT) for purchases and new guidelines will be lowered TO (5.00% DOWN PAYMENT)



Professional Mortgage Loan Specialist
Christian Roberts Mortgage
512 East Winchester 6400 South
Murray, UT 84107

(801) 604-4949 mobile
(801) 604-4949 office
(888) 880-3472 direct fax
NMLS# 243976 -3138