I just researched a great loan program... It is called an EOM- Economic Opportunity Mortgage.  It is a 5% down product without any mortgage insurance.  This is a fantastic option in lieu of the FHA loan with mortgage insurance that never goes away. 

Here are some of the details:

·         95% for both purchases and refinances (must be their 1st/only property)
·         Loan amount limit is the high cost limits per county.  (417k or 625,500).
·         Lender fee $295 (reduced from $1195 on EOM)
·         Condo’s don’t need to be FHA/Fannie Approved
·         No Mortgage Insurance—competes with rising FHA premiums
·         Max DTI of 38/44
·         No need to count spouse’s debt or FICO or income, if not on the loan.

If you have questions, please give me a call or shoot me an email.  I can get you in touch with a lender offering the product.