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Down Payment
Low Down Payment
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1 of 3 Down Payment
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At Applied Wholesale Mortgage, you could qualify to
purchase your new home with as little as 5% down!
We also have programs available for other low down payment
purchases.
Generally, qualifying factors are:
- Income sufficient to support
monthly mortgage payments
- Sufficient cash to cover the
down payment, normal closing costs and related expenses
- A good credit report and
payment history
- Appraisal value.
The property value should be at least equal to the
purchase price
- One month’s cash reserves
are required for high LTV (Loan to Value) loans and while not
always required for other types of loans, cash reserves
equivalent to two monthly mortgage payments are always a
positive offset to the buyer as it indicates a borrower’s
ability to manage finances and build a financial cushion.
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