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Wisconsin and Illinois Fannie Mae Flex 97 Mortgage

Effective immediately, and solely as consequence of recently issued announcements by Fannie Mae and Freddie Mac and mortgage insurance companies, Ameristar Mortgage is implementing the following changes:

Fannie Mae Flex 100 program has been discontinued. Fannie Mae Flex 97 with a max LTV of 97% is still available.

With the Flex 97 Program, you can get more house for less out of pocket costs. If you have not accumulated the assets to meet traditional financial requirements, this program may be for you.

Flexible 97 loans are designed to help first-time homebuyers and borrowers who would like to use reserves for other investments or expenses. They offer flexible financing solutions for borrowers who have good credit, need up to 97% financing, and have limited funds for a down payment and closing costs.

Contribute only 3% from your own funds and apply it towards your down payment, closing costs or prepaids.

  • Receive up to 6% Seller Contributions with 97% LTV (loan to value)
  • Available on 1-unit, primary residences
  • Avoid paying mortgage insurance with lender paid mortgage insurance
  • Fixed rate and adjustable rate mortgages (ARM) with up to 40-year term
  • Interest Only option available on fixed and ARM rates with 30-year term
  • Not just for the first time home buyer
  • No maximum income restrictions
  • Available for purchases and rate and term refinances

Flexible funding sources include gifts, grants, employer assisted housing, unsecured loans, secured money, or a Community Seconds® mortgage

Other programs that may be of interest:
My Community Mortgage
Freddie Mac Home Possible
Rural Housing
FHA Loans
VA Home Loans
Lender Paid Mortgage Insurance
100% Financing Programs

Current Wisconsin and Illinois Mortgage Rates - Please call or email Ameristar for current Flex 100 mortgage rates

All Wisconsin and Illinois Mortgage Programs
100% Financing (No Money Down) Programs
First Time Home Buyer Mortgage Programs
My Community Mortgage
Government Loans including FHA, VA and Rural Housing
Wisconsin Refinance Illinois Refinance Programs

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