HomeSteps Special Financing
Monthly Savings

Your savings may differ.	HomeSteps Special Financing	FHA Financing	Conventional Financing
Principal & Interest	$697.08	$711.75	$697.08
Mortage Insurance (Monthly)	$0.00	$40.42	$61.75
Total Monthly Payment	$697.08	$752.17	$758.83
Your Monthly Savings		$55.09	$61.75
Annual Savings with HomeSteps		$661.08	$741.00

Assumptions: All figures are based on a 30-year fixed-rate mortgage with an interest rate of 8%. A sales price of $100,000 was used with a 5% down payment for HomeSteps Special Financing and Conventional Financing. A 3% down payment was used for FHA Financing.

Approval Qualifications: All loans are subject to credit approval. Prequalification is not loan approval. Buyers must have 5% of the sales price and close within 30 days of escrow. Gift funds of 2% allowable on 95% LTV, owner-occupied purchases. Gift funds are defined as funds given to purchaser by a family member, or an agency in which the amount given is not to be repaid. The gift funds cannot become a lien on the chain of title. Qualified borrowers must meet normal Freddie Mac underwriting guidelines, and home must qualify for Special financing. No buydowns or assumptions. No rate extensions. Certain restrictions may apply. Contact Special Financing lender for details of program. Program and rates subject to change without notice.

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HomeSteps
5000 Plano Parkway • Carrollton, TX 75010

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