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10721 Jackson Lane, Frisco TX 75035

Phone: (214) 387-0683       Fax: (214) 387-0185       Email Us


Fannie 97

Low Down Payment Loan

This low down payment mortgage is ideal for the home buyer with enough income to cover a monthly payment but little cash for the down payment. Fixed-rate, 15- or 30-year terms.

Consumer Benefits

  • 97% LTV, 3% down payment
  • Debt-to-income ratios 33/38%

Key Features

  • A low down payment of 3 percent.
  • This mortgage provides expanded debt-to-income ratios, which means you may use up to 33 percent of your gross monthly income for housing expenses each month (instead of the standard 28 percent) and 38 percent for your total monthly debt expenses (instead of the standard 36 percent).
  • This mortgage can be used with Fannie Mae's Community Seconds®, Community Land Trust, and Lease-Purchase options.
  • You must have one month's mortgage payment (i.e. cash reserve) in your savings account after the closing.
  • Home buyer education is required (it may be offered by your lender or your lender may be able to recommend a resource).
  • To qualify for this loan, you must earn no more than the area median income (exceptions are made in specified high-cost areas).




2006 Conforming Loan Limits

Number of
Maximum original
principal balance
Alaska, Guam, Hawaii,
and U.S. Virgin Islands only
1 $417,000 $625,500
2 $533,850 $800,775
3 $645,300 $967,950
4 $801,950 $1,202,925



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10721 Jackson Lane, Frisco TX 75035

214-387-0683EMAIL: info@brown-lending.com


"Your reliable Dallas Mortgage Broker and specialist on Texas Mortgage Rates and Home Mortgage Loans."



Fixed Rate Mortgage