Eligible 4 IMI

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What is Eligible 4 IMI?

Eligible 4 IMI is a new program that allows you to get a mortgage with a down payment of just 4%. This program is available to first-time homebuyers and existing homeowners who are refinancing.

Benefits of Eligible 4 IMI

There are many benefits to using Eligible 4 IMI, including:

• Lower down payment: You can get a mortgage with a down payment of just 4%. This can save you thousands of dollars on your closing costs.
• Lower monthly payments: Your monthly mortgage payments will be lower with a 4% down payment than they would be with a traditional down payment of 20%.
• More affordable housing: Eligible 4 IMI can make it more affordable for you to buy a home. This program can help you get into a home sooner than you thought possible.

How to Qualify for Eligible 4 IMI

To qualify for Eligible 4 IMI, you must meet the following requirements:

• First-time homebuyer: You must be a first-time homebuyer or an existing homeowner who is refinancing.
• amortize Debt-to-income ratio: Your debt-to-income ratio must be 50% or less. This means that your monthly debt payments, including your mortgage payment, cannot exceed 50% of your monthly gross income.
• Credit score: You must have a credit score of 620 or higher.

Common Mistakes to Avoid

There are a few common mistakes that you should avoid when applying for Eligible 4 IMI. These mistakes include:

• Not getting pre-approved: Getting pre-approved for a mortgage will help you determine how much you can afford to borrow. This will help you avoid wasting time looking at homes that are out of your price range.
• Not shopping around: It is important to shop around for the best mortgage rate. This can save you thousands of dollars over the life of your loan.
• Not reading the fine print: Before you sign a mortgage agreement, be sure to read the fine print carefully. This will help you avoid any surprises down the road.

Why Matters

Eligible 4 IMI is a great program that can help you get into a home sooner than you thought possible. This program can save you thousands of dollars on your closing costs and monthly mortgage payments. If you are a first-time homebuyer or an existing homeowner who is refinancing, Eligible 4 IMI is a great option to consider.

Benefits

Eligible 4 IMI offers a number of benefits, including:

• Lower down payment: You can get a mortgage with a down payment of just 4%. This can save you thousands of dollars on your closing costs.
• Lower monthly payments: Your monthly mortgage payments will be lower with a 4% down payment than they would be with a traditional down payment of 20%.
• More affordable housing: Eligible 4 IMI can make it more affordable for you to buy a home. This program can help you get into a home sooner than you thought possible.