How come no one is talking about Yourfirst Mortgage with Wells Fargo?

[DallasLoanGuy]

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@StartingOver10 wrote:

This program is also available through other non-bank mortgage lenders. 

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yep. it is just a 3% down conventional backed by fannie mae.

i believe there are income limits.

but i read somewhere that they are easing up on some of the overlays on this program. 

i havent gotten a white paper on the changes yet

[Anonymous]

NWFCU (Northwest Federal Credit Uniion) also offers 3% down payment for first time home buyers and 0% down payment. 

Just checked their website for rates and thats what I found out:

97% Financing - First Time Homebuyer

30 Year Fixed First-Time Homebuyer
Rate       APR       Points
3.500% 4.015%    0.000%

100% Financing
30 Year 100% Fixed Rate
Rate        APR     Points
4.000%  4.532%  0.000%

[Anonymous]

I have applied for this program and posted my experiance so far here:

http://ficoforums.myfico.com/t5/Mortgage-Loans/Wells-Fargo-yourFirst-Mortgage/td-p/4710081

[onstar]

As many already mentioned, there are many lenders who offer 3% down payment.

Bank of America, Chase, and hundreds of non-bank direct lenders offer 3% down payments. They all have their cute names for these loan programs. Great marketing tactics.

[pifhluk]

These are all just part of the "Home Ready" program I think:

https://www.fanniemae.com/singlefamily/homeready

[Anonymous]

NWFCU offers these both mortages with 3% down

30 Year Fixed First-Time Homebuyer Conventional ( I chose this one)

3.500%

4.026%

0.000%

HomeReady Mortgage 30yr

3.500%

3.948%

0.000%

[Anonymous]

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@MontegoMack wrote:

I'll definitely follow this thread...I'm hoping to app for a mortgage in about a year and I really want to make sure I take a look at all viable options. I'm even hoping to get a membership at NFCU (sent in my app yestreday) to see if they'll be competitive. 

This sounds like a good one! I think Chase may have something similar. 

Anyone know for certain?

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Have you considers a NACA mortgage?

That's really the best program if you are willing to put in the time and woirk.

[MontegoMack]

I looked at NACA, but I think my price range and income may be disqualifying.