Key Home Advantage

Key Home Advantage

Program Description
  
Now it’s easier to own a home with a Key Home Advantge mortgage loan. With flexible sources for downpayment, it takes a lot less cash to get started. Qualifying is also easier than you might expect with flexible guidelines.

Guidelines:

· 1% or $500, whichever is less, borrower contirbution. Reminder of 3% downpayment may come from flexible
     sources

·  Maximum 3% seller contributions

·  Non-traditional credit accepted

·  Competitive, low rates

·  No Private Mortgage Insurance (PMI) required

· Maximum 100% of AMI unless Fannie Neighbors Eligible Area

· 15, 20, 30 year fixed rate or rate and term refinances

·  97% LTV for 1-2  units; 80% for 3-4 units

· 41% qualifying ratio

·  1 month reserves

·  Owner-occupied principal residential; 1-4 units; no co-ops or
    manufactured homes

Homebuyer Education:

·  Homebuyer education and landlord counseling for 2-4 units requried

Contact: Cindy Windsor, 614/365-3356 or 1-800/635-7759 ext 3356