Now available wherever you are, we’ve proudly extended the benefits of our LMI product to serve borrowers across the United States with NO geographic restrictions through July 2018. NewRez’s LMI Mortgage is a conventional mortgage designed for low to moderate income First Time Homebuyers purchasing a primary residence.
Ask how you can receive a 50 bps price improvement on your next First Time Homebuyer purchase!
Income: Borrowers monthly qualifying income may not exceed 80% of the FFIEC Estimated MSA/MD/non-MSA/MD Median Family Income as determined by the location of the subject property being financed. FFIEC Estimated MSA/MD/non-MSA/MD Median Family Income for the subject property’s location may be found by entering the property address in the FFIEC Geocoding System and selecting the “Census Demographic Data” button. 80% of the 2017 FFIEC Estimated MSA/MD/non-MSA/MD Median Family Income must be utilized.
To check eligibility, please visit the link below:
NPF Geographic Eligibility List