The program is a grant which can be used for down payment or closing cost. This is a grant with no repayment required. This program is designed to help low to moderate income borrowers.
|Credit score:||640 minimum|
|Property type:||SFR, PUD, Condo|
|Down Payment:||no minimum contribution|
|Loan to Value:||96.5% CLTV: 105.5%|
|Gift Funds||Allowed. No minimum buyer contribution.|
|Closing cost:||Seller and/or lender can pay up to 6%|
|Income Limit:||Income Limits Apply|
- Condos must be FHA approved / 95 LTV max
- Lender-Paid Closing Cost program available
- Impounds are not optional
- Bankruptcy 2 yrs, Foreclosure 3 yrs, Short Sale 3 yrs (Standard)
- First time buyer not required. Must be primary residence.
- Homebuyer education is not required
- 100% gift for closing funds allowed
- Mortgage reserves are not required
- No first time buyer OK
- Flips transaction within 90 days acceptable.
All program are subject to change at anytime without any further notice