MortgageDepot is really devoted to supporting communities and offering reasonably priced housing choices.

The Group Reinvestment Act (CRA) loans supplied by MortgageDepot are designed to assist debtors buy a house primarily based on particular standards. This consists of households with revenue ranges under 80% of the Space Median Earnings (AMI) or properties positioned in low-to-moderate revenue areas. This program not solely helps households obtain the dream of homeownership but in addition permits us to increase our lending alternatives.

Some key options of MortgageDepot’s CRA loans embody:

• As much as 97% loan-to-value (LTV) ratio with no mortgage insurance coverage
• Minimal borrower contribution of only one% for one unit and 5% for 2 models (the rest might be gifted)
• No credit score rating requirement as much as 95% LTV for one unit (documentation of 4 non-traditional credit score sources required)
• Normal conforming mortgage quantities
• 30-year fixed-rate mortgages
• Out there for W-2 debtors solely

By providing these reasonably priced CRA loans, MortgageDepot is making a constructive affect on communities and serving to extra households obtain homeownership. It’s a win-win state of affairs for everybody concerned. In case you’re seeking to help the Group Reinvestment Act and assist households in want, MortgageDepot’s CRA loans are an ideal choice to think about.

Join with certainly one of our mortgage consultants to study extra.