Rainbow Mortgage Inc March Madness

This is Mortgage Madness!

It’s March Madness on and off the court! Rainbow Mortgage Inc. is currently offering so many different unique home loan programs that it’s pure mortgage madness!

1% Down

The buzzer is ticking down and it’ll soon be game over for our 1% down home loan program! This program is perfect for first time home buyers or those who are strapped for cash but have great credit. You, the home buyer puts 1% down, the lender gives you an additional 2%, which gives you 3% equity in your home!

FREE Appraisals

What’s better than seeing your team make it through to the Final Four- getting a FREE appraisal on your home! If you’re looking to purchase a home in either Hennepin or Ramsey County, it qualifies for a free appraisal! No matter what your income is, or if this is your first or 5th home, you’ll save over $500! (other counties may also be eligible, call for details).

High Balance Loans

When it’s tournament time, these teams go big or go home, with our high balance home loans you’re able to go big and go home! Rainbow Mortgage Inc. is offering low-rate conventional loans for homes up to $850,000 with a loan amount as high as of $679, 650. This is big news since these conventional loans allow for lower rates, easier guidelines, and fewer documents than a jumbo loan.

Pre-Qualified

With the fast-moving housing market, it may feel like you’re watching the Selection Show while waiting to hear back if your offer has been accepted. Before the intensity builds, get a letter of pre-qualification. This not only proves to the sellers that you’re a serious contender for the big dance, it gives you an idea of what you can afford. Our pre-qualification process is simple, give us a call today to get it started!

Are you ready for mortgage madness?

Working with Rainbow Mortgage Inc. is always a slam dunk! We’ve been in business for over 19 years and have created systems to produce faster closing loans that require less paperwork. Now is the perfect opportunity to take advantage of our March Mortgage Madness. Call us today, and our team of mortgage experts will start planning your full court press.

1% Down Payment

Get Into Your Home With A 1% Down Payment

The notion that you need a 20% down payment to purchase a home is gone! Rainbow Mortgage Inc. is excited to offer the conventional 1% down with equity boost loan program. It’s as easy as 1,2,3!

You provide 1% down.

The lender gives you an additional 2%.

Giving you a total of 3% down at closing!

What does 1% down look like? It could be the sum of your yearly gym dues. Maybe it’s one month’s rent, or a year’s worth of lattes.  It could be the cost of a vacation or even a designer handbag. Saving for your home’s down payment is no longer a daunting task! You may be thinking that there is a catch, either it’s an adjustable rate mortgage (ARM) or you must buy points for a lower rate. This program is a 30-year fixed rate loan, with great low rates- which means no additional points due at closing! The loans also close fast and are available without monthly Mortgage Insurance.

“The 1% down program we’re making available to clients is a new alternative to the 3% down program that already exists,” said Dave Jamison, VP of Rainbow Mortgage Inc. “It’s a conventional loan designed for borrowers with strong FICO scores who want to save money on their down payment and maximize their monthly discretionary income.”

This conventional program is available to homebuyers with a minimum FICO score of 720 and a maximum debt-to-income ratio of 43%. Rainbow Mortgage Inc. is one of the few independent mortgage companies in Minnesota and the U.S. to offer a 1% down payment option in the form of a conventional loan, as opposed to a government backed loan.

 

Interested in learning more about Rainbow Mortgage Inc.’s conventional 1% down with equity boost program- give us a call!

 

Rainbow Mortgage Inc.

3300 Edinborough Way #550

Edina, MN 55435

 NMLS# 345827 || 952-405-2090|| www.rainbowmortgageinc.com|| dave@rainbowmortgageinc.com

**Note: not all loans can close in 20 days or less. Other conditions may apply. Not everyone qualifies for the 3% down. Borrower contributes 1% down, lender contributes 2% of the loan amount up to $5000 for the down payment and the borrower is responsible for any difference to get the required 3% down. Call for terms and conditions.