Think of it as a housewarming gift.
Instead of a down payment, INOVA's 100% financing allows you to use your savings to help turn your new house into your dream home!
- In-house underwriting, financing, and servicing
- Fully underwritten pre-approvals
- Rate locks up to 45 days
- Gift funds are acceptable for funds to close
Contact our Mortgage Department at (574) 970-5669 or via email at [email protected].
With rates dropping it may be your time for a new home!
INOVA's 100% Loan-to-Value (LTV) Home Loan can only be used for the purchase of a single-family residence, and subject to the following eligibility criteria and requirements: Must be the primary residence for borrower and all co-borrowers. Residence may be single family detached/attached or condo. Minimum credit score of 680 for loan with maximum debt-to-income ratio (DTI) of 41%. Minimum credit score of 700 for loan with maximum DTI of 45%. Fixed interest rate. Minimum 2 months reserves for principal, interest, taxes, and homeowner insurance. Minimum of 1% borrower contribution towards closing costs or prepaids (gifted funds are permitted to meet minimum borrower contribution). 3% maximum seller contribution. Monthly borrower-paid mortgage insurance (35% coverage). Full documentation required for employment, income, and assets. Subject to membership requirements. No manufactured housing or co-ops and no non-traditional credit.
