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Citi administers the brand new HomeRun Program and you will assesses your qualifications into program

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The newest Citi HomeRun Financial Program permits borrowers having lower-to-average income to purchase mortgages and purchase land. The brand new HomeRun Financial System enables eligible consumers to shop for a property which have a downpayment as little as step three.0% of the property cost for a single family home, 5.0% for a condo or co-op and 10% getting a two tool assets. In the place of other lowest if any down payment home loan software, the fresh HomeRun Program need borrowers while making at least individual economic contribution of just one% towards the its down payment to own just one house and you can 5% to have a-two equipment house. The rest portion of the down payment will come out of an excellent current otherwise down payment guidance program.

Among the many trick great things about the new Citi HomeRun System is one to consumers commonly needed to shell out an upfront otherwise lingering individual home loan insurance (PMI) percentage, which reduces their closing costs and you can overall month-to-month casing expenses since compared to equivalent programs.