National City Mortgage Rural Housing

No down payment is required from the borrower under this program. There is no minimum credit score required. There is a 2% Guarantee Fee based on loan amount which can be financed.

Use when your buyer:

• · has very little cash
• · has little or no credit
• · has a less than "perfect" credit history
• · needs expanded ratios

Features

• · up to 100% LTV plus guarantee fee
• · sellers can contribute up to 6% in closing costs/prepaids
• · No minimum credit score required
• · qualifying ratios of 29/41%
• · limited to defined Rural areas - requires approval from local RD office
• · assumable by qualified buyer

Income limits: Yes, determined by houseyold size and income standards

Contact: Tim Moffitt, National City Bank, 614-276-LOAN (5626), tim.moffitt@ncmc.com