Purchase Advantage by CAFA – Improvements on Conventional Loans
Partnering with CAFA in Louisiana, GMFS can now offer the Purchase Advantage to more borrowers!
Conventional Loans Area Median Income (AMI) Can Now Go Up to 140%
What does this mean for your Conventional Borrowers?
- No Freddie Loan Level Price Adjustments means a better rate for your HFA borrowers
- Available on all Purchase transactions – not limited to FTHB only
- You pick your down payment assistance needed from No Down Payment Assistance to a max of 4%
In addition, we have price improvements for borrowers with 80% AMUI or lower!
- 80% AMI or less will get 50 bps price improvement
- 50% AMI or less will get a total of 100 price improvement
Improved MI also available if the AMI is less than 80%