103% Financing-Borrowers Advantage - MA, NH, VT, ME, CT, RI

First Patriot Mortgage - mortgages and refinance loans in MA

Back to Loan Programs

103% Financing-Borrowers Advantage

This is a fixed rate, fully amortizing mortgage with a non-conforming loan amount available to purchasing borrowers with excellent credit and limited cash resources for a significant down payment on a single-family primary residence.

Maximum Base LTV is 100%. Minimum is 97.01%. Combined Maximum LTV is 103%. Borrower can finance 3% of prepaids and closing costs. MI premiums may also be financed up to the maximum 103% CLTV.

The maximum loan limit is $500,000 (maximum base loan amount $485,437). Occupancy and Units are Primary Residence-1 unit.

Eligible property types are: detached single family residence, attached townhouse/row house, PUD, low rise condominiums.

Loan terms are 15 and 30-year fixed rate.

"Until we talked to the First Patriot professionals, I had no idea getting pre-approved could be done so quickly. Our loan officer, Jeff, made the mortgage process understandable and helped us make some big decisions towards buying our first home."
- Scott and Mary Beth Hamwey, Boston, MA

First Patriot Mortgage • 701 Broadway, Suite 2 • Revere, MA 02151 • 800-390-2993 • mortgages@firstpatriot.com
Licensed in MA, NH, VT, ME, CT, RI