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Minimum Down on ARM in new development

Started by NYNYNYNYNY
almost 15 years ago
Posts: 41
Member since: Feb 2007
Discussion about
I've been told the minimum down for a conforming plus ARM in a new dev is 25%. Can anyone confirm that this is true? Thanks.
Response by shong
almost 15 years ago
Posts: 616
Member since: Apr 2008

True. On conforming high balance loans $417,001 - $729,750, ARM programs require a minimum of 25% down. Otherwise you can go non-conforming. sunny.hong@bankofamerica.com

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