Key Community 100% Financing Loan


Another Loan With 100% Financing

Well almost 100%, the borrowers need to contribute just $500 to the transaction.

This mortgage program is available only through Key Bank and is available to the State of Utah.

What I like about this mortgage product is the borrower friendly guidelines. The lower than normal credit score and the nice thing is this mortgage does not require mortgage insurance. You know that fee the lender wants you to pay each month on top of your regular payment because your LTV (loan to value) is above 80%. And the best part is…it only costs $500 down payment, nice.

Here are some of the main bullet points to this loan

  • No mortgage insurance required for this 100% portfolio product.
  • No origination fees.
  • No income restrictions in targeted areas (80% of median HUD income in upper/middle census tracts).
  • Borrowers only need to contribute $500 to the transaction.
  • 620 minimum credit score with no late payments in the past 12 months
  • Verifiable rental history required for 12 consecutive months in the past three years.
  • 3 trade lines referral required. Example: power bill, gas bill, cable bill.
  • Not just for first time homebuyers but cannot own additional properties.
  • Rates are typically .25 higher than conforming rates.
  • Dept to income ratio cannot be above 42%.

What do you think? This is a great loan and I can see how this will help sevaral people who are waiting to increase their credit score or save for at least a  3.5% down payment.

If you feel this loan is right for you or know of someone who this loan can help to purchase a home, contact Todd today and he will get you headed in the right direction.

Todd  Rodocker  specializes with first time home buyers, seasoned buyers and investors.  He can be contacted at, cell 801-694-0903  or by visiting his web sites,


About toddrodocker

Todd Rodocker Realty Group is Premier Real Estate Agent and Loan Originator in Utah and promotes Home Ownership to everyone. Todd Rodocker Realty Group is partner with Aubrey & Associates Realty and Altius Mortgage. NMLS 317650
This entry was posted in Buyers, For Buyers, For Realty Professionals, General Information, Mortgage. Bookmark the permalink.

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