Down Payment Assistance
This is a down payment or closing cost assistance program. This program is a 3.5% loan of the total loan amount with no payments for 30 years or until the first loan is refinanced or transfer.
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| Credit score: | 660 minimum |
| Property type: | SFR, PUD, Condo |
| Occupancy: | Primary residence |
| Down Payment: | 0.5% minimum |
| Loan to Value: | 96.5% CLTV: 105.00% |
| Gift Funds | Allowed. No minimum buyer contribution. |
| Closing cost: | Seller and/or lender can pay up to 6% |
| Debt Ratio: | 45% |
| Income Limit: | Income Limits Apply |
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The second is for 3% sales price with deferred payments at 3.25% rate.
Additional Notes:
- Condos must be FHA approved
- Lender-Paid Closing Cost program available
- Impounds are required
- Bankruptcy 2 yrs, Foreclosure 3 yrs, Short Sale 3 yrs. (Standard)
- First time buyer not required. Must be primary residence.
- Family size increases maximum loan amount
- Household members are based on last year’s income taxes
- Lender-paid closing cost available
- 2 appraisals w/ home inspection on 90 day flips
This page contains program highlights only. See sidebar links for further information and details.
All program are subject to change at anytime without any further notice