Conventional 10% Down 1 Unit

This program is for well qualified buyers. The funds, credit, and income requirement are stricter than government loans. With this 10% down the maximum loan amounts are increased above standard limits.

Credit score: 620 minimum
Property type: SFR, Condo, PUD
Occupancy: Primary residence
Down Payment: 10% minimum
Loan to Value: 90%     Max. CLTV: 90%
Gift Funds Allowed
Closing cost: Seller and/or lender can pay up to 6%
Debt Ratio: 45%   with compensating factors up to 50%


Additional Notes:

  • Condos must be Fannie Mae approved
  • Lender-paid closing cost available
  • Impounds optional with 10% Down
  • Unpermitted additions will not be given any value
  • Bankruptcy 4 yrs, Foreclosure 7 yrs, Short Sale 4 yrs
  • First time buyer not required. Must be primary residence
  • Less than 20% requires mortgage insurance
  • Mortgage reserves may be required
  • Lender-paid mortgage insurance available
  • Flips usually one appraisal. No home inspection required

This page contains program highlights only.  See sidebar links for further information and details.

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