Discussion in 'Credit Talk' started by k, Mar 19, 2001.

  1. k

    k Guest

    who knows if you can get a three-percent down loan (non-fha) with prime rates if you have a good fico score?
  2. newhouse

    newhouse Guest

    Hi...I jsut closed on Thursday (yay!) with 3% down, NO PMI, conventional, with a 660 score. Bank of America - special first time homebuyer program. $500 had to be my own funds, but could borrow/be given the rest of the 3% down.

    Check with your agent, and your county/city/state Dept.'s of Housing - they often have special programs
  3. newhouse

    newhouse Guest

    Ooops...forgot to say that the interest rate was 6.5% with no points of anykind
  4. Worried

    Worried Guest

    What CRA does Bank of America use?
  5. newhouse

    newhouse Guest

    For almost all mortgage lenders, incluidng BofA, they pull what is called a tri-merge report, which is a consolidation of info on all three reports. They use your middle credit score.
  6. MikeG

    MikeG Well-Known Member

    Bank of America

    Bank of America also has a 3% down program where the interest rate is adjustable. The interest rate of the loan is always 1% below market, which right about now would be nice.

    Mike G.

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