At BBVA Compass, we believe smart mortgage lending helps build strong neighborhoods and a better future. We offer many different programs which DO NOT have private mortgage insurance. We have programs for First Time Home Buyer's, investors, 2nd home buyers, clients looking to refinance, and more. You name it... there's a program out there to cater to each individuals needs.
One of the great loan programs we offer is our œCommunity Reinvestment Act program which has no mortgage insurance, low FICO scores down to 620, fixed rate, and as little as 0-3% down, depending on the property type and area. BBVA Compass may even also pay certain closing costs (excluding discount points, interest and prepaid items) up to $4,500 (restrictions apply) on this program.
So please don't think 20% down is the rule of thumb these days, as you do have more programs available to you than you may think. If you are in the need for financing or just want more information please don't hesitate to call me.
Thanks to Andrea Brost, Senior Banking Officer with BBVA Compass, for writing this article. You can reach Andrea at 720.369.4027OR Andrea.Brost@BBVA.comNMLS#870905 Regulated by the Colorado Division of Real Estate.
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