Waiting, Not sure what you are asking. Are you looking to buy a primary here OR refi your rental ??
With a rental you normally only get credit for 75% of rental income, and you may need to prove it with tax return schedule.
The low rates are for owner occupied properties only.
Any negative gets factored in to monthly debts.
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Ralph, 3.5% down is still availble from FHA. Usually comes with 1.50% upfront fee and mortgage insurance for at least 5 years, regardless of LTV.
Similar to a subprime loan of a few years ago. Allows people with crappy credit and little money to buy a house, only difference is it’s full doc only, no stated income, and debt ratios in the low 30’s.
Courtesy of the govt. to build a “home ownership society”
They have already determined that the best prediction of a future foreclosures is the % amount of a down payment, yet they continue with low down payment programs.
FNMA new program is different. I think 10% down is minimum.
Below $417K 5% down is possible if mortgage insurance is available.