GMAC offers a program called “Borrower Advantage”. Details are as follows:
97%-103%LTV
Max base loan amount (before financing CCs & prepaids) is $440,000
Seller contribution allowed up to 3%
All borrower’s funds may be gift (including the required 2 mo PITI reserves)
Primary residence only
1 unit, PUDs & condos up to 4 stories
Credit score min = 700.